Wednesday, August 28, 2013

Charles Dunn Completes Sale of Vacant Multifamily Property in Los Angeles

  
2476 North Beachwood Drive, Los Angeles, CA
  
Michael Hibbert
LOS ANGELES, CA, Aug. 28, 2013 – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $1.53 million sale of a vacant, five-unit multifamily property located just north of Franklin St. at 2476 N. Beachwood Drive in Los Angeles.

Michel Hibbert, senior managing director of Charles Dunn Company, represented the seller, an LLC from Los Angeles. The buyer was the Pachucki Family from Los Angeles who was represented by Andrew Maleski of ACM Properties. 

Andrew Maleski
“The property presented the investor with a strong value-add opportunity,” said Hibbert. “The buyer plans to renovate the vacant property in a submarket with just three percent vacancy and rising rents.”

According the Hibbert, the property was marketed for several months generating over 15 offers. “Through our extensive marketing program and sales expertise in the area, we were able to screen and select the ideal buyer who was the highest bidder with the highest likelihood of a smooth and quick closing. The property sold for 97 percent of the asking price.”

 For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

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