1046 N Genesee & 1052 N Martel

West Hollywood, CA · West Hollywood

Sale Price

$3,500,000

$263

$/SF

Key Points

●Two West Hollywood REO land parcels acquired under one purchase agreement
●Completed sale on 01/22/2025 for a combined $3,500,000
●Seller financing formed part of the purchase structure
●Glen Scher and Filip Niculete represented the seller in a co-listing with Agnew-Serling Group

Bank-Owned Development Site|2 min read

Two-Property REO Land Portfolio | West Hollywood | Seller Financing

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The LAAA Team of Marcus & Millichap completed the sale of 1046 N Genesee Avenue and 1052 N Martel Avenue, two REO land parcels in West Hollywood, for a combined $3.5M on 01/22/2025.

We represented the seller in a co-listing with Agnew-Serling Group. The buyer had separate representation. The purchase agreement covered both properties, with seller financing forming part of the acquisition structure.

The offer required us to evaluate the financing terms together with price and the buyer's ability to complete a coordinated purchase of both parcels. Our work combined buyer outreach, negotiation of the two-property purchase, and closing coordination under the agreed terms.

Structuring a two-property REO disposition

Our role: Glen Scher and Filip Niculete represented the seller as part of a co-listing with Agnew-Serling Group. The buyer had separate representation.
The assignment: The sale combined two West Hollywood land parcels, 1046 N Genesee Avenue and 1052 N Martel Avenue, in one purchase agreement.
Our decision: Seller financing was part of the purchase structure. We evaluated the offer as a combined disposition of both properties, with financing terms considered alongside price and the buyer's ability to complete the purchase.
Verified outcome: Both properties closed on 01/22/2025 for a combined $3,500,000. A financed purchase can require a different execution plan from an all-cash acquisition; the agreed terms and buyer fit govern the approach.

Case study updated 10/02/2026.