NOHCO Real Estate is pleased to announce the sale of 3444 Potomac Ave in the Historic West Adams neighborhood in Los Angeles, Ca walking distance from the Metro Expo Line.
The buyer was an out of state REIT who sought the value in the underlying land. Built in 1947, the property sits on a 6,037 SF corner lot zoned R3-1 (TOC Tier 3) allowing for a future development up to 14 units in a Transit Oriented Corridor while also capitalizing on tax benefits from being in an “Opportunity Zone.”
Prime Location in West Adams near Leimert Park, Baldwin Hills, Crenshaw, Culver City, Rancho Cienega Sports Complex, USC, Exposition Park, DTLA, Staples Center, LA Live, Restaurants & Shops.
Through our proven process, we were able to “Create Value Through Superior Representation,” selling at a below market cap rate, producing strong interest, negotiating short contingencies, and executing a smooth closing for the Seller. This was an ALL Cash Transaction.
If you would like more details on this sale or learn how we can better your position, please contact us at firstname.lastname@example.org or (213) 804-7647.