15613 S. White Avenue
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- 15613 S. White Avenue
The sale of 15613 S. White Avenue was driven by proper pricing and broad buyer engagement. Referred by a residential agent, the opportunity required strong exposure and an informed approach to South Los Angeles investor demand
Background
15613–17 S. White Avenue is a six-unit multifamily property located in South Los Angeles. The asset was offered as a value-add opportunity at $183,167 per unit, approximately $216 per square foot, a 5.65% CAP rate, and a 10.83 GRM on current rents. The property featured six two-bedroom units and was situated on a 20,170 square foot lot with a mix of one-car garages, covered parking, and surface spaces.
At the time of marketing, the property offered approximately 70% rental upside. At projected market rents based on renovated units in the area, the asset was expected to stabilize at an 11.98% CAP rate and a 6.35 GRM. The size of the lot and existing parking configuration also presented potential to add one or more accessory dwelling units, subject to buyer verification.
Ownership was introduced through a referral from a residential agent and engaged Max to guide the sale. While the property fundamentals were compelling, execution required an understanding of current South LA buyer behavior and pricing sensitivity.
Result
The property was brought to market in early January and generated immediate interest from local investors familiar with South Los Angeles value-add opportunities. Leveraging recent transaction experience in the submarket, Max maintained broad exposure while managing buyer expectations around rent growth and development potential.
The marketing process produced approximately 15 offers, allowing ownership to evaluate multiple execution paths. A local investor was ultimately selected and closed in 14 days. From launch to close, the transaction was completed in 45 days, reflecting both the depth of demand for well-located South LA assets and the importance of disciplined pricing and outreach in the current market.
Story Details
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15613 S. White Avenue
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