JUST SOLD AND IN ESCROW 2 PROPERTIES IN MIRACLE MILE Click here to have your portfolio evaluated in 48 hours. Just Sold for $2,850,000 6 UNITS IN MIRACLE MILE ON A LARGE LOT ZONED R4 744 S Ridgeley Drive, Los Angeles, CA 90036 $457,000/unit $474/sqft 22.92 GRM 2.30% cap Click here to get your portfolio evaluated. In Escrow! 6 UNITS IN MIRACLE MILE 637 S Burnside, Los Angeles, CA 90036 Prime...
[caption id="attachment_15789" align="alignnone" width="300"] Measure S Defeated[/caption] Los Angeles voters rejected ballot Measure S on Tuesday March 7, 2017 which was an initiative to change Los Angeles City laws governing modifying the general building plan and real estate developments. Voting "yes" to Measure S would support a moratorium on construction that would increase density for a period of two years in...
A Q4 2016 Review and Outlook Below are some great slides and summaries provided by CoStar from last week's presentation. Based on CoStar data, there was a significant decrease in both annual demand. Something interesting to look at was the increase of homeownership in 2016 which could be directly correlated to the increase in vacancy perhaps in addition to the historically low interest...
On December 15, 2016 Mayor Eric Garcetti signed the Tenant Buyout Ordinance, combined with Rent Stabilization Ordinance, in effort to curb the housing affordability issues the city of Los Angeles is experiencing. Source: https://www.lamayor.org/mayor-garcetti-signs-tenant-buyout-ordinance. According to LAMayor.org, half of the families here in Los Angeles live in rent controlled apartments. This ordinance was built to strengthen renters' rights by mandating...
[caption id="attachment_235" align="alignnone" width="1346"] Santa Monica Expo Line Opening[/caption] The Expo Line officially opened at noon on Friday May 20th, the picture above was taken around noon on Saturday showing plenty of crowds utilizing the transit system. The train will take you from Santa Monica to Downtown Los Angeles in 50 minutes. "Looking at the schedule, a train during morning rush hour...
Instead of trying to track the market, which is fun yet difficult to do, if you need to sell but are waiting for the highest peak of the market, why be greedy? Look at the three charts above, all three are showing values that are higher than ever, take your profits now and cash out or trade into that high...
Cornering the Venice Market Prosser Stevens agent Eric Von Bluecher negotiated this off-market acquisition of 15 units in prime Venice. Classic deals like this are rare these days in the competitive Venice market (notably this was the first commercial grade multi-family asset with over 5 units to trade in Venice so far in 2016). Since the investors have worked with Eric...
Value Add in this Market? Off Market Deal SOLD with 70% Upside Steps to Beach Prosser Stevens agent Eric von Bluecher negotiated on behalf of a local family investor to purchase this 9 unit property in Marina del Rey with serious deferred maintenance. This off-market transaction was the perfect match of a retiring Seller looking to leave the management headaches behind with...
Sales from January to March 2016 including GRM, CAP Rates, Price Per Square Foot and Price Per Unit of apartment buildings sold. MULTIFAMILY SALES Marina del Rey, Santa Monica, Palisades & Venice Sales Reported from January 2016 to March 2016 Buildings with 5 units and larger Santa Monica / Palisades Venice/ Marina del Rey CAP Rate Map Multifamily Sales Click here to view entire report Contact Eric M-F 9-6 for...
Recent sales metrics including GRM, CAP Rates, Price Per Square Foot and Price Per Unit of apartment buildings sold in Marina del Rey, Santa Monica, Pacific Palisades and Venice Beach. Please click this link for a copy of the newsletter AQ-Santa Monica Venice. Santa Monica Apartment Building Sales October-December 2015 Summary According to reports pulled from CoStar® analytics of 5 to 20 unit multifamily sales,...
No Contingencies, 12 Day Close for 4 Unit Property on Trendy Rose Ave Sold by Eric von Bluecher, BRE# 01926201 Eric@ProsserStevens.com 310-774-3726 The owner of this 4 unit Venice property chose Prosser Stevens and Agent Eric von Bluecher due to their specialized experience in selling income properties and strong track record on the Westside. The Property was previously listed by a residential Realtor and it...
PROSSER STEVENS SELLS WESTWOOD APARTMENT BUILDING FOR $500,000/UNIT...
Venice Beach SOLD in 90 Days! 6 Unit Multifamily + 2 Vacant Land Parcels ...
Case study of a 10 unit apartment building deal sold off market in Santa Monica....