Press Release brought to you by Triqor Group

5 Units, Inglewood Sold by Triqor Group

06/22/2016

Triqor Group’s Vice President of Investments, Michael McKinney, and Investment Advisor, Brandon Cyprus, are proud to announce the sale of a 5-unit multifamily property located on Grevillea Avenue, in the bustling city of Inglewood. The seller was a longtime owner since 1963, the year Grevillea Manor Apartments was built, and sold the 1960’s vintage-style property to an active buyer for a closing price of $950,000- all cash. Located in Northwest Inglewood, in close proximity to the soon-to-be Los Angeles Rams’ NFL stadium and surrounding development, the buyer took immediate interest in Grevillea Manor.

Aside from its convenient location, this savvy buyer also recognized Grevillea Manor’s tremendous upside in rents, being at least 30% below market, having no rent control, consisting of above average, large units with mostly two bedrooms, generous on-site parking, easy access to local freeways and recent upgrades including new A/C, heating and roof. With twelve offers received, McKinney and Cyprus strategically handled this quick transaction with an ending cost of $220,000 per unit, marking it one of the highest prices in Inglewood!

Source

Triqor Group

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