Sold Listing Case Study
1352 S. Centinela Ave.
Los Angeles, CA 90025
14.5K SF Development Site in West Los Angeles
Key Deal Points
Listed at $6,500,000
Sold for $7,100,000
14,583 Square foot lot zoned LAC2-1
Sold for $489 per square foot of land, a record for West Los Angeles
Procured 7 offers and closed all cash with no financing contingency
We were approached by the
owner to determine the market value for his property. Given our expertise in the development market, our analysis concluded that this site benefited by a number of development bonuses offered by the city and was uniquely position on the border of Santa Monica and West LA. The owner agreed with our valuation and listed the property with our team at $6.5 million.
The property sat near a known earthquake fault line, so any buyer needed to be aware of that fact
and the potential costs involved in testing. Our team vetted buyers who had the experience, knowledge
and vendors in place to take on that challenge.
Our direct marketing campaign
to qualified and experienced developers paid off in multiple offers, ultimately closing for $600,000 over our initial asking price.