4473-4481 Santa Monica Blvd. | 1110-1114 N. Virgil Ave, Los Angeles, CA 90029
Description
Sale Price: $6,400,000
Building GLA: 12,662 SF
Land Area: 19,662 SF
Commercial Units: 5
Residential Units: 5
The property was sold to a locally based family office in a 1031 exchange, Maher Commercial Realty tenaciously represented the Seller, allowing no price concessions once escrow was opened, selling the property at 98% of the list price.
Prior to the sale, Maher Commercial Realty stabilized the property by filling two retail vacancies with established internet resistant tenants. This allowed the property to appeal to a wide range of Buyers, who could add value to the multifamily portion of the property with piece of mind that the retail was filled in a difficult COVID leasing environment.
Address
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Address 1110 N Virgil Ave, Los Angeles, CA 90029, USA
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Country United States
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Postal code/ZIP 90029
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Contact
Jeremy Shore
Property Agent
Jeremy Shore is an experienced professional with over 10 years of working across all aspects of commercial real estate brokerage, management and investment. Since joining Maher Commercial Realty in 2018, Mr. Shore has completed over $70,000,000 in transaction volume, between signed leases and closed sales. On the sales front, Mr. Shore is arranging development, investment, and owner-user transactions across retail, industrial, multifamily, and office product types in the greater Los Angeles area. Mr. Shore dives deep into properties he analyses to find the 'highest and best use' to maximize revenue and valuation for his clients, which include prominent family offices and institutional investment firms. On the leasing side of the business, Mr. Shore has represented owners and tenants of food and beverage spaces, industrial warehouses, general retail and office space. With deep contract knowledge and careful diligence, Mr. Shore strives to complete transactions where at the end of the day, both landlord and tenant are satisfied and can look forward to the start of a years' long relationship. Mr. Shore enjoys the feeling of shaping a neighborhood and providing a home for entrepreneurs to flourish. Mr. Shore takes pride in having a role in improving the communities in which he operates, whether by adding housing to combat Los Angeles' affordability crisis or making a neighborhood more desirable by placing a cafe which becomes a gathering place for locals. In his spare time, Mr. Shore enjoys staying active with cycling, tennis, skiing, and hiking with his wife and dog. BRE#02020539