KingSide Investment Group of Keller Williams Commercial is proud to announce the successful closing of 212 South Catalina Street, an 18-unit apartment building in Koreatown. 

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The initial contact with the client started in 2018. The owner lived out of state and wanted to eventually 1031 exchange into a property closer to where he lived. Our team nurtured the relationship by reaching out to the client’s children as well - becoming a resource for them. Due to the family’s circumstances, the sellers felt 2024 was the right time to put the property on the market. 

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We competed on the business with multiple brokerages and earned the opportunity to exclusively list the property.  Our extensive track record in Koreatown; as well as a large buyer pool proved beneficial to the client because of how it would translate to netting higher proceeds.  Immediately after sending our email campaign and executing our marketing plan, we procured six (6) offers within the first several days of being on the market. The seller elected to go with a buyer in a 1031 exchange.  The buyer removed all contingencies in less than a week and proceeded to close escrow in less than 30 days. More importantly, the property sold within the price range we conveyed to the seller we thought it would sell for if marketed in the open market. 

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During the escrow process, we hit a minor setback due to the difficulty of obtaining insurance. However, we were able to get both parties (seller and buyer) to work together to get the necessary requirements met in order to find a competitive insurance premium for the buyer.  We helped the buyer complete his 1031 exchanger and the seller move onto investing in a more landlord friendly state.  

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The sale of 212 South Catalina Street marks only the third apartment building of 10 units and larger to sell in Koreatown (90004) within the last three months.  This is significant because one of the other properties to sell in the last three months was the property we exclusively listed and sold on 237 N Catalina Street a couple of months ago. As a result of these sales, we have the proud distinction of holding a 66% market share for apartment sales of apartment buildings in Koreatown (90004) with a unit count of 10 units and larger. 

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There is no other team with a larger market share for apartment sales in Koreatown (90004)! To learn more about this sale, or to receive a free pricing analysis on your multifamily property, please give us a call today.

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