11143 Aqua Vista St, North Hollywood

the successful sale of The Pink Flamingo, a 10-unit multifamily property located at 11143 Aqua Vista St in prime Studio City, CA.

Deal Story

Our relationship with these sellers started back in 2019. At the time, they were buyers looking to expand their portfolio of apartment holdings. Over the years, they considered buying a number of our listings but never pulled the trigger because, in their words, "we sell our properties for too much money." While we hear this often, it’s a huge compliment because it reflects the value we consistently deliver to our sellers. As a seller-centric brokerage team, we firmly believe in the power of the exclusive listing process, and this philosophy has always guided our work.

Fast forward to this year, and life circumstances had turned these buyers into sellers. In September, they asked us to evaluate three of their South Valley apartment buildings that they were ready to sell. They informed us they’d be interviewing other brokers and that we’d be competing for their business. We welcomed the competition. Just like getting multiple contractor bids for a remodel, we encourage clients to get multiple broker opinions before making a decision.

We approached the process like we always do—by showcasing the value we bring to sellers. One of the key things we do is provide a long list of client references, allowing potential clients to hear directly from others who’ve worked with us. These sellers called 4 or 5 of our references, and after hearing consistently positive feedback, they signed listing agreements with us for all three properties.

We launched the first "just listed" email blast for 11143 Aqua Vista on September 24th, and the property quickly gained traction due to its great location and unique character. Within weeks, we had four offers from qualified buyers. The winning buyer wasn’t the one with the highest price but instead the one offering the best terms and the highest certainty of closing—something these sellers valued most.

The buyer was one of the most prolific apartment owners in Los Angeles and, more specifically, the San Fernando Valley. We’ve closed nearly a dozen deals with this buyer over the years, and he’s always been incredibly reliable. He’s not always the highest-priced buyer, but he consistently delivers smooth transactions and keeps things easy for sellers. For this deal, he was in a 1031 exchange and offered an all-cash deal with a...