Challenge
This multifamily property is located a block from Tujunga Village, offering a variety of boutique shopping, restaurants, and art gallery options. Built in 1941, this opportunity allowed investors to capitalize on existing cash flow and potential upside in a thriving rental market. The owner was looking to cash out of the asset, but the uncertainty created by COVID-19 created some concerns.

Strategy
Thanks to the Matthews™ hyper-specialization of the Los Angeles market combined with the industry-leading marketing execution and extensive database, a good level of interest was generated. Through the team’s superior client services and constant communication, a qualified buyer was soon identified.

Results
With the collaboration of dedicated agents and the marketing team, the property closed during the COVID-19 pandemic with no price reduction. The seller guaranteed three-months rent from all units for the buyer, achieving mutually satisfying results for both parties involved.