13312 Woodbridge St
Sherman oaks, ca
The LA Apartment Advisors are proud to announce this impressive sale of a 5-unit multifamily property in Sherman Oaks, CA. Situated at 13312 Woodbridge St, this rent-controlled property (built in 1945) provided the market with a great value-add opportunity in a prime Sherman Oaks location.
Through our unmatched marketing platform and knowledge of the market, we were able to generate 5 offers in the first week of marketing. One of the buyers, who was in a 1031 exchange, won the deal by giving an all-cash, quick close offer that was $20,000 above list price! The escrow closed without a problem in under 30 days.
The seller, a passive "mom and pop" owner, did not want to worry about fixing any of the deferred maintenance on the property before selling. With that in mind, we negotiated a contract that put the responsibility of all repairs on the buyer after the close of escrow; this even included the large project of mandatory seismic retrofitting that the property needs.
For more information on this sale, or to get a complimentary evaluation done on your property, please give us a call at 818-212-2808!