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.

Selling Success: Case Study #2 - 11320 Osborne St, Lake View Terrace, CA 91342

Selling Success: Case Study #2

11320 Osborne St, Lake View Terrace, CA 91342

Sales Price: $1,060,000

𝐁𝐀𝐂𝐊𝐆𝐑𝐎𝐔𝐍𝐃:

The owner had a non-negotiable price and required a 30-day leaseback to allow time to find and purchase a replacement property prior to moving out.

𝐑𝐄𝐒𝐔𝐋𝐓:

Not only did we successfully sell this property for $10,000 above the asking price, but we also secured a 30-day leaseback at the buyer's expense, completely free for the seller. This arrangement enabled the seller to transition to their new property seamlessly, without any additional stress. Currently, we are in escrow on the replacement property with ample time to spare, affording the owner a leisurely and stress-free move-out process.

Property Spotlight:

Located in the tranquil Lake View Terrace neighborhood, this charming single-story residence is nestled among properties ideal for equestrian enthusiasts. Featuring three bedrooms and two bathrooms, this generous home spans an impressive 1,722 square feet. Situated on a substantial flat lot measuring nearly half an acre, or 20,020 square feet, it is zoned as RA-1-K (Horse Property). As you step inside, , you'll find a delightful living room featuring a cozy wood-burning fireplace, seamlessly connected to the kitchen adorned with bar seating, beautiful cabinets, and countertops. An additional family room opens up to a covered patio that stretches the length of the house, complete with a ceiling fan to keep you cool. The master bedroom is generously sized and comes complete with an ensuite bathroom, accompanied by two more well-appointed bedrooms. Vinyl windows grace the home, providing both a pleasing aesthetic and energy efficiency. The backyard offers the potential for an entertainer's paradise, with ample space for a swimming pool and an Accessory Dwelling Unit (ADU). Take a look at the 3D Render in the photos for inspiration. The property includes a detached two-car garage and a wide driveway capable of accommodating three vehicles parked side by side. Additionally, there is a long driveway that offers ample space for convenient RV parking.

Noteworthy Features:

- Single-story residence ideal for equestrian enthusiasts

- 3 bedrooms, 2 bathrooms, 1,722 sq ft

- Situated on a substantial flat lot, nearly half an acre

- Zoned as RA-1-K (Horse Property)

- Cozy wood-burning fireplace in living room

- Kitchen with bar seating, beautiful cabinets, and countertops

- Additional family room opens to covered patio

- Master bedroom with ensuite bathroom

- Potential for swimming pool and ADU in backyard

- Detached two-car garage and wide driveway for 3 vehicles

- Additional long driveway for convenient RV parking

- Convenient access to 210 and 118 Freeways

- Nearby equestrian trails, Hansen Dam, and Angeles National Golf Course

Convenient Location:

Lake View Terrace, nestled amidst the picturesque Foothills of Southern California, provides easy access to major freeways such as the 210 and 118, as well as equestrian trails, Hansen Dam, the Angeles National Golf Course, and abundant hiking trails. Its strategic location ensures seamless connectivity to neighboring areas including La Canada, Glendale, and Pasadena. 

Considering selling your home?

Contact Archie Robb today for your Real Estate needs.

Selling Success: Case Study #1 - 10440 Kurt St, Lake View Terrace, CA 91342

Selling Success: Case Study #1

10440 Kurt St, Lake View Terrace, CA 91342

Sales Price: $1,105,000

Background: The owners needed to relocate out of state in a few weeks and were eager to sell their property swiftly to avoid the burden of simultaneous housing payments.

Result: After my initial meeting with the sellers, we immediately got started on the marketing materials and we were listed on the market four days later. Within five days of that, we received multiple offers and went into escrow. The entire process, from our first meeting to the close of escrow, took 29 days, and the property sold for $55,000 over asking!

Property Spotlight:

Situated in the tranquil Lake View Terrace community, this single-story abode offers a spacious layout with 4 bedrooms and 2 bathrooms, sprawling across approximately 1,790 square feet on an expansive lot spanning 12,160 square feet. Upon arrival, you're greeted by immaculate curb appeal, accentuated by newly installed drought-tolerant landscaping and a spacious driveway. Step inside to discover a welcoming ambiance, complete with a cozy gas-burning fireplace in the inviting living room, seamlessly connected to the kitchen adorned with bar seating, elegant cabinets, and countertops. The generously sized master bedroom boasts an ensuite bathroom, accompanied by three additional bedrooms, offering ample space and comfort.

Noteworthy Features:

- Sustainable Living: Equipped with Tesla Solar (10 kW Solar System, TWO Powerwalls) and a new electrical panel.

- Climate Control: Enjoy year-round comfort with central AC/Heat, a Nest Thermostat, ductless mini-split AC in the master bedroom, and ceiling fans.

- Stylish Finishes: Revel in elegant oak floors, vinyl windows, and recessed lighting throughout.

- Modern Upgrades: Benefit from copper plumbing, a reverse osmosis water filtration system for the entire house, a five-year-old roof, new gutters, and updated fixtures in the bathrooms and kitchen.

- Outdoor Oasis: Unwind in the expansive outdoor space featuring a large awning and outdoor TV, a gas hookup for BBQ, drought-tolerant landscaping with artificial grass and decomposed granite, and a convenient storage shed.

- Parking and Expansion Potential: The property offers an attached two-car garage, along with ample side yard space ideal for RV parking or the addition of an Accessory Dwelling Unit (ADU).

Convenient Location:

Lake View Terrace, nestled amidst the picturesque Foothills of Southern California, provides easy access to major freeways such as the 210 and 118, as well as equestrian trails, Hansen Dam, the Angeles National Golf Course, and abundant hiking trails. Its strategic location ensures seamless connectivity to neighboring areas including La Canada, Glendale, and Pasadena. 

Considering selling your home?

Contact Archie Robb today for your Real Estate needs.