4123 Ocean View Blvd, Montrose

the successful closing of 4123 Ocean View Blvd in Montrose, a 6-unit multifamily property that traded at a sub-5% cap rate in today's elevated interest rate environment.

The seller had owned this property for nearly 30 years. He was not planning to sell. The original plan was to pass it down to his kids. Then, LA County rolled out the Rent Stabilization and Tenant Protections Ordinance (RSTPO), expanding rent control into unincorporated areas like Montrose. The numbers shifted. Rent growth became capped. Expenses kept rising. The deal no longer penciled the way it once did.

He decided it was time to move on, but only with someone he trusted to handle it the right way.

We were brought in through a referral from a long-term client. This was someone who had heard us say more than once that it was not the right time to sell. No listing. No commission. Just honest advice. That is what led to the introduction.

We delivered the BOV in late December. The property hit the market in early January. We secured a buyer in 18 days. Not just any buyer, but a seasoned local investor with a proven portfolio, deep roots in this submarket, and the experience to recognize a well-positioned asset when he sees one.

Escrow was where the real work began. The seller wanted to complete a 1031 exchange into Delaware Statutory Trusts (DST) for a more passive investment after decades of active management. We connected him with DST brokers and worked directly with his exchange accommodator throughout the process.

Midway through escrow, an electrical compliance issue came up involving panel upgrades, electrical permits, and voltage approvals. This put the transaction at risk and required a formal extension while we worked through the issue with the city.

From there, it became a coordinated effort across all parties. We worked daily with the 1031 accommodator, DST brokers for the seller's upleg, both management companies, the insurance carrier, the lender, and escrow. Permits were addressed, timelines were adjusted, and communication stayed tight from start to finish.

We represented both the buyer and the seller, which meant full responsibility for keeping everyone aligned every step of the way.

6 units | $1,685,000 | 4.94% cap | 12.38x GRM | $280,833 per unit | $422 per SF