Ample Hills Creamery

1824 Hillhurst Ave. Los Angeles, CA 90027

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PRICE: 

$3,825,000.00

Price / SF:

$1,735.00

Cap Rate:

5.17%

Building Area: 

2,204 SF + 1,828 SF

Tenants

Ample Hill Creamery

Challenge

Solution

  • Sellers wanted to pre-market the property before tenant had taken occupancy. 

  • No sales comparable available to justify pricing in the immediate area due to high barrier to entry market.

  • Building price per square foot extremely high at market CAP rate and building was unique craftsman architecture build over 100 years ago.

  • Through customized highly stylized marketing began marketing process early highlighting properties unique features and higher barrier to entry features.

  • Successfully guided local investor and their advisor through the substantial improvements seller had made as well as tenant improvement dollars spent on structure creating a new basis for depreciation. Sold for near record price per square foot for the LA market at $1,725 per square foot in 4 month marketing process in which tenant opened only one month before buyer closed escrow in less than 30 days.