Duplex Sale: Duplex properties on Orange Drive and Mansfield Ave (adjacent to Hancock Park in Los Angeles) are the most sought after properties for purchase. Both owner-users and investors want to buy these properties.
Best Recent Home Sale Los Angeles: 200 S. Orange for $2.5 million
The Bienstock Group sold 200 S Orange on October 25, 2016 for $2,500,000. The property is 6,078 square feet on a 7,829 square foot lot. At the time of sale, the upstairs unit was rented for $3,450/month, the downstairs was rented for $3,995/month, and the unit over the 4 car garage was rented for $2,015/month.
Rent Control Limitations: There are strict Rent Control Laws in Los Angeles County that govern raising rents and relocating tenants. The laws are protective of long term tenants. Owner-users can relocate tenants if they or one of their 7 close relatives – laid out in the laws – will occupy the unit. If an owner user will relocate a tenant, a relocation fee must be paid and requisite notice must be given.
Properties that are delivered vacant at the close of escrow sell for significantly higher prices because the units can command market rent and/or can be owner occupied immediately at the close of escrow. Properties in move-in condition sell for significantly higher prices for the same reason.
At The Bienstock Group we pride ourselves on getting top top dollar for the properties we represent for sale. We work with owners to figure out how to get every last dollar from their sale. We sold $97M in 2016. So far in 2017 we closed 41 transaction, with year-to-date closed volume of $60M. We are capable of selling this kind of volume and can be known to sell the most expensive homes in Beverly Hills should you choose to work with us. We Love What We Do and would be honored to get you top top dollar for your home.