Selling Success: Case Study #3 - 341 N Genesee Ave, Los Angeles, CA 90036

Selling Success: Case Study #3

341 N Genesee Ave, Los Angeles, CA 90036

Sales Price: $1,901,250

Background:
Two of its units had been stripped down to the studs and a recent garage fire rendered it ineligible for conventional financing, necessitating transactions with cash or 1031 exchange buyers. Given the challenging nature of the current market, finding a suitable buyer posed a formidable task.

Result:
Despite facing considerable obstacles, we used our expertise in marketing and extensive network to identify a cash buyer capable of submitting a non-contingent offer. Remarkably, we successfully closed the deal within a mere 14 days, defying expectations and securing a favorable outcome for the sellers!

Property Spotlight:

Offered for sale for the first time in over 50 years, 341 N Genesee Avenue is a four-unit investment property located in the Fairfax District/Beverly Grove neighborhood, a densely populated rental submarket known for excellent rental growth and low vacancy rates. Two units will be delivered vacant at the close of escrow providing a great opportunity for an owner-user or investor. 341 N Genesee Avenue consists of Four (4) large 2 bedroom/1 bath units. Each unit is separately metered for gas and electricity. There are five 1-car garages and the garages are vacant making them perfect for an ADU (buyer to verify). The property has a WALKSCORE OF 91 and is within proximity to The Grove and Farmer's Market, La Brea Avenue and Melrose Avenue, all considered some LA's most popular destinations for numerous retail and restaurant venues.

- Located in the Fairfax District/Beverly Grove neighborhood

- Four-unit investment property in a densely populated rental submarket

- Two units will be delivered vacant at the close of escrow

- Consists of Four (4) large 2 bedroom/1 bath units

- Each unit separately metered for gas and electricity

- Five 1-car garages included; garages vacant, potential for ADU (buyer to verify)

- Property has a WALKSCORE OF 91

- Proximity to The Grove, Farmer's Market, La Brea Avenue, and Melrose Avenue

- Popular destinations for retail and restaurant venues in LA

Contact Archie Robb today for your Real Estate needs.