The following case study describes our process selling our recently closed property at 12156 Oxnard Street, North Hollywood, CA 91606.

Deal Story

Our client reached out to us late in 2022 to list the property for sale. It had just been acquired out of foreclosure and the plan was to bring it back to market as a residential development deal.

At the seller’s request, we put the property on the market at a slightly below market value since the Federal Reserve was going to be increasing the rates in the coming weeks.  By executing our marketing plan, we were able to procure eleven offers. When it came time to accessing the unit, the tenant was not willing to grant access because of several bouts of COVID and as a result, the deal fell out of escrow originally.

In the end, we were able to source a buyer that walked the exterior of the property and was comfortable writing a non-contingent offer subject to the residence being delivered vacant. We arranged financing for the buyer and closed escrow in less than 45-days as outlined in the contract.

To date (2023), this is the only development deal to sell in North Hollywood. Talk about being active and putting our head down…this was 1 of 4 escrows our team closed at the start of the new year (January).  It is important to sell your asset with an experienced team that will work tirelessly to net you top dollar. Give us a call to see how we can do the same for you.

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