COSTA MESA, Calif. – The Mogharebi Group (TMG) has arranged the $5.9 Million sale of 4910-4918 Maywood, a 13-unit community in the Los Angeles neighborhood of Eagle Rock, CA. Otto Ozen and Nazli Santana of TMG represented the seller, a private investment group out of San Francisco, CA.
Built in 1961 and extensively renovated in 2020, 4910-4918 Maywood is comprised of one-, two-, and three-bedroom units housed in a 13-unit multifamily community. Property amenities include In-Unit Washer/Dryer, stainless steel refrigerator, dishwasher and gas range oven, quartz countertops, air-conditioner, and electric heater.
“According to Redfin, In July 2022, Eagle Rock home prices were up 43.7% compared to last year, meaning more housing demand switching over to the rental market, which puts quality properties like 4910-4918 Maywood even more in the spotlight,” said TMG Senior Investment Advisor Nazli Santana. “The property received significant investor interest because of those market dynamics, as well as its great location, high occupancy, and Class-A renovations. Through our proprietary 1031 exchange platform that includes a robust network of private, high net-worth and exchange buyers, we found the perfect buyer to capitalize upon the continued growth of Eagle Rock.”
Eagle Rock has consistently been ranked among the hottest residential neighborhoods in Los Angeles with a high median home price of $1.1 million, which has increased to be on par with the nearby historically desirable city of Pasadena, CA. Eagle Rock is located in a desirable location near Glendale, Highland Park, Silver Lake, Echo Park, Downtown LA, and Atwater Village, with the best retail, restaurants, entertainment venues, and recreational areas available near Downtown LA. With a median home price in Eagle Rock of $1,100,000, the average down payment required is over $220,000, which equates to a 55% affordability gap, providing the new investor of 4910-4918 Maywood with substantial upside.
About The Mogharebi Group (TMG):
The Mogharebi Group is one of the largest multifamily brokerage firms in the United States by volume. With offices throughout California, Seattle and Salt Lake City, The Mogharebi Group offers private investors and investment funds deep local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital with over $800 million in regularly revolving inventory.