Many people think the holiday season is a time of low supply that makes it difficult to find a new home. We see it as a time of low demand that makes an excellent buying opportunity. In this transaction, we assisted our clients with the purchase side of a 1031 exchange. While in the process of selling a property in Northern California, we began assisting our clients with searching through various neighborhoods in Los Angeles that matched their search criteria for another excellent investment property. Our buyers initially opened escrow on a property in Encino, but through our inspections and due diligence we determined that the property was unsuitable and was in need of significant repair. Our buyers cancelled that deal, likely saving themselves thousands of dollars and a huge headache. We then located this property in Sherman Oaks on Albers Street in the highly desirable Kester Avenue Elementary School district. The main home has four bedrooms and two bathrooms on 1,755 square feet. The property was entirely remodeled within the past five years – new roof, HVAC system, water heaters, plumbing, electrical work, and more. The remodel was completed for the owner occupants, which is always a good sign for quality of craftsmanship. The property also contained a separate accessory dwelling unit, adding another bedroom, bathroom, and kitchen on 450 square feet, which adds even more investment potential to the property. Our clients can now rest assured that they obtained a great property, in a great neighborhood with excellent investment and income potential, and with minimal headache.
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