$1.05M
4900 Riverton Ave, Los Angeles
Sale Price
$1.05M
Cap Rate
2.82%
Type
O
Closed
March 2020
3 Units | North Hollywood | Completion of Client's 1031 Exchange
The LA Apartment Advisors are proud to announce the successful completion of our client's 1031 exchange with the purchase of these 3 units located at 4900 Riverton Avenue in North Hollywood, California. Built in 1939, the property sits on 6,753 square feet of land with 2,156 square feet of rentable area and consists of 1- two bed / one bath and 2- one bed / one bath units.
Through our expert market knowledge we identified our client's personal goals, and we were able to significantly improve their position. After successfully selling our client's property last month, we quickly found this suitable exchange property which has a better unit mix, is located in a better location, and has more day 1 income, with the further potential of capitalizing on 42% upside in rents.
For more information about this successful completion of this 1031 exchange, or if you would like a complimentary 1031 exchange evaluation for your property, give us a call today!
Closing