753 Lillian Way
Los Angeles, CA
The LA Apartment Advisors are proud to announce another record breaking sale of this eight-unit multifamily building, named The Lofts on Lillian Way, in the Hollywood sub-market of Los Angeles. According to Costar, this is the highest price per square foot and highest price per unit sale ever for a multifamily property in the Hollywood submarket, and it is the second highest price per square foot and second highest price per unit in the entire zip code, which includes the mid-Wilshire sub market.
Furthermore, we were able to achieve this record breaking price after this deal was already marketed for 3 months by a different brokerage team. After our team took over this stale listing, we were able to generate 5 offers through our extensive track record, negotiation skills, and superior marketing platform. By cooperating fully with the outside brokerage community, we were able to find an exchange buyer, represented by an outside broker, who paid full list price. Lastly, due to the fact that this was a brand new building, there were a number of vacancies at the close of escrow. This made it very important for our experienced team to have the correct knowledge and find the correct buyer to navigate a slightly tricky escrow process.
For more information about this sale or a complimentary evaluation for your property, give us a call today!