LOS ANGELES, CA – Michael Dixon and Ziv Kozaski with NAI Capital’s Encino office represented the Buyer, 519 Fickett, LLC, in the sale of two multifamily properties in Los Angeles. The first is a 12 Unit property located at 519 N. Fickett Street and the second is a 10 unit property located at 2458 Folsom Street. The combined value of both sales transactions were over $1.4M.
“Both the Buyer and Seller were both tremendously pleased with the outcome,” said Dixon. “The Buyer, whom I’ve worked with in the past, was mostly concerned with a strong cash flow situation. After looking at many properties we were able to locate a motivated seller in an area that would provide the Buyer with what he was looking for. At the time of sale, both properties had 100% occupancy, a dream come true in this Buyer’s market,” Dixon continued.
The 12 unit property, located in 519 N. Ficket Street was built in 1928 and is situated in a quiet residential neighborhood. The second property, located at 2458 Folsom Street is an 8 unit building, with 2 additional units next to it. Location was one of the most attractive qualities of this double transaction. USC campus sits to the west, the USC Medical Center to the north, and Cal State University Los Angeles to the east. Proximity to these institutions help the properties secure an excellent high occupancy rate.
The properties are in close proximity to the USC Medical Center Busway Station with easy access to bus service at Cesar E Chavez and Soto Street. Nearby shopping centers include El Super, Mercadito Market, Tortilleria San Marcos, Shell Gas Station and Bank of America.
About NAI Capital
NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com