4 Units | Brand New Construction | Opportunity Zone | Closed before CofO
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The successful sale of 1626 South La Brea Avenue, a brand new construction 4-unit property in the 90019 zip code of the Mid City submarket, and it is located inside an opportunity zone.
Completed in 2021, the subject property sits on a 6,525 square foot lot and consists of (4) Four Bedroom / 4 Bathroom units, all equipped with modern, high-end finishes, appliances, and amenities which will help the owner to achieve top of the market rents in one of the city's most desirable neighborhoods. The property was delivered 100% vacant to buyer before certificate of occupancy.
Deal Story
We initially found the deal by shopping for nearly completed new construction multifamily product in LA Opportunity Zones. The LAAA Team was one of the first teams to pioneer the exploitation of a certain Opportunity Zone loophole that allows investors to close on new construction multifamily property before the issuance of the Certificate of Occupancy, enabling them to reap the future tax benefits of opportunity zone investments as if they built it from the ground up themselves.
The Buyer we found had significant capital gains tax exposure from a sale of non real estate investment assets that he was looking to defer, and this Opportunity Zone loophole proved to be the perfect solution to his problem.
The successful sale of 1626 South La Brea Avenue, a brand new construction 4-unit property in the 90019 zip code of the Mid City submarket, and it is located inside an opportunity zone.
Completed in 2021, the subject property sits on a 6,525 square foot lot and consists of (4) Four Bedroom / 4 Bathroom units, all equipped with modern, high-end finishes, appliances, and amenities which will help the owner to achieve top of the market rents in one of the city's most desirable neighborhoods. The property was delivered 100% vacant to buyer before certificate of occupancy.
Deal Story
We initially found the deal by shopping for nearly completed new construction multifamily product in LA Opportunity Zones. The LAAA Team was one of the first teams to pioneer the exploitation of a certain Opportunity Zone loophole that allows investors to close on new construction multifamily property before the issuance of the Certificate of Occupancy, enabling them to reap the future tax benefits of opportunity zone investments as if they built it from the ground up themselves.
