This La Crescenta 3 + 2 closed. Our client’s rental was located at 2519 Rockdell St. They were referred to us by a past client. I met the client in May, and the tenant moved out that month. We did a pre-inspection and made approximately $50,000 in fix-its, including a new roof. Unfortunately, there was much-deferred maintenance, including more than $9,000 in termite repairs.
We listed the home for $1,085,000 and had two offers. Although we received an offer for $1,100,000, the seller opted to accept a cash offer with a quick close at the asking price. The sellers agreed that an investor with a tight timeline was the way to go in this market. This buyer had just over two weeks to close on a property to complete their 1031 exchange. They had six months from the date of their sale (on their exchange property), and we felt due to their tax implications, if they failed to close, they would be the most motivated buyer. We were correct, and this La Crescenta 3 + 2 closed!
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