LOS ANGELES--(BUSINESS WIRE)-- Matthews Real Estate Investment Services™, the nation’s fastest-growing brokerage firm, recently represented the seller in the sale of a twelve-unit multifamily property located at 216 East Imperial Avenue, El Segundo, CA for $5,900,000 ($491,666.67/unit).
The building was constructed in 1989 and consists of 24 bedrooms and 23 bathrooms with 14,012 net rentable square feet. Daniel Shieh, a Matthews™ multifamily associate, negotiated on behalf of the seller, a private client who held title to the property via family trust and was looking for a 1031 exchange property closer to his home.
Matthews™ closed the property with an all cash offer within 13 days, and the buyers were impressed with the well managed process of the transaction. With a sub 3 percent cap and 21.2 GRM, Daniel accommodated the quick close by managing the process with the buyer, seller, escrow, and title companies.
If you have any questions relating to your multifamily investment(s), please do not hesitate to reach out to Daniel Shieh for more information.
About Matthews Real Estate Investment Services:
MATTHEWS REAL ESTATE INVESTMENT SERVICES™ is recognized as an industry leader in multifamily, shopping center, STNL, management, leasing, portfolio disposition and 1031 exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit WWW.MATTHEWS.COM.
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Source: Matthews Real Estate Investment Services