The following case study describes our process selling our recently closed property at 3713-3717 Imperial Hwy, Inglewood, CA 90303.

Deal Story

We met with the previous owner of the property last year – at that time he was collecting little to no income on the property because his tenants were dealing with financial Covid-19 hardships. In addition, with the eviction moratorium in place, he could not evict his tenants for non-payment of rent.

The owner wanted to sell; as a result, we tailored a marketing strategy for his apartment building and provided him with multiple, prospective 1031 exchange properties. However, we could not come to an agreement on commission and instead the owner decided to accept an unsolicited offer. The buyer ended up holding the owner in escrow for close to 6 months and bought the apartments at close to a 20% discount from where we priced it and where we presented him with offers.

Unfortunately, the owner left money on the table by not exclusively listing the property and exposing it to the entire market. Once the escrow closed, we reached out to the new owner of the property to determine if he would consider an offer. Being that we had written offers that were 20% higher than the price at which he purchased it only a month ago, we thought the new owner would be interested in making a quick buck.

In the end, the new owner was willing to sell the building and promised to deliver all the units vacant. We reached into our network of buyers and called the exact client who was looking to renovate vacant buildings. After agreeing on price and terms, we opened escrow and ultimately closed within 60 days.

Find out how we can help you sell you commercial real estate property. Call KingSide today.