Kidder Mathews Arranges Mixed-Use Sale in Eagle Rock
A mixed-use property at 4311 Eagle Rock Blvd. in Los Angeles has sold to Opus Builders LA for $1,445,000 in an off-market transaction. Kidder Mathews’ Darin Beebower, Mark Ventre and Arian Rejaei represented Opus along with the seller, a family trust.
The property comprises four townhome-style residential units and two commercial units for retail. Opus plans to renovate and reposition the asset, with a long-term goal of redeveloping.
The closing reportedly sets a new benchmark, coming in with the lowest cap rate (3.46%) and the highest price-per-unit ($361,250/unit) for any rent-controlled building in the Eagle Rock submarket within the past year.
“To meet the sellers’ pricing expectations, we suggested the seller carry the note with an attractive loan-to-value and interest rate,” said Ventre. “By doing so, we were able to get the seller a great price and monthly income higher than he was previously making by owning the building.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).