14826 Dickens St, Los Angeles

The LA Apartment Advisors are proud to announce the successful sale of these 6 units located at 14826 Dickens Street in Sherman Oaks, California. Built in 1952, the offering sits on 10,652 square feet of land with 4,392 square feet of rentable area and consists of 4- one bed / one bath, 2- two bed / one bath units, with the immediate value add component of building a 2-bed, 835 sq.ft. 7th unit.

This property was listed two weeks ago, right when the coronavirus started to become a real problem. However, with our immense marketing platform, we were still able to generate multiple offers in the first day of marketing this property, and we opened escrow 4 days after listing it. The winning buyer gave the seller an extremely attractive, all-cash offer, with a very short 9 day close. Although the offer was all-cash, during escrow we were able to help the buyer put down less money by helping him assume the Seller's current loan. This further helped ensure a smooth escrow process and a quick close.

Furthermore, with the coronavirus making inspections difficult, and sometimes not possible, we were able to get the tenants to take pictures of their units for the Buyer, rather than having an inspector walk through the unit and risk getting the tenant sick. By thinking outside the box in today's unprecedented world, we were able to ensure the Buyer got all the inspection information he needed without risking anyone's health, and therefore we were able to ensure a good price for the Seller with a quick and easy escrow process.

Moving forward, the Seller has agreed to manage the property for the Buyer. Furthermore, the Buyer is planning on building a 7th on the front lawn of the property, which will add great value for the Buyer. This sale was truly a win-win!

For more information about this transaction or a complimentary evaluation of your property, give us a call today!

Closing