SEVEN OFFERS. THEN THE PROBLEMS STARTED.

What matters

1. $6,215,000 closed August 27, 2026.24 units.  $258,958 a door. $455 a foot. Neema Ahadian and Jeff Estrada of The Neema Group at Marcus & Millichap printed a 6.56 cap and a 9.44 GRM.  16 one-beds and 8 two-beds. Fully parked.  A 1031 buyer with a real deadline. The building turned over during marketing and again in escrow. Electrical panels that carriers would not insure. 
2. Neema Ahadian said: "Seven offers on a non-RSO asset in Highland Park tells you demand for newer-vintage product in Northeast LA hasn't gone anywhere. Buyers are still there for well-located, non-rent-controlled product. .They're just more careful about how they get to the finish line."
3. Jeff Estrada:"This wasn't a clean, linear process. The building went through turnover during marketing and again during escrow, and it had electrical panels that carriers wouldn't insure. What got the buyer comfortable was that the seller was hands-on and actually managing the building day to day. When questions came up, the buyer was getting real answers from the person running the property, not a third-party manager reading from a report."
4. They did not hide the panels.Jeff Estrada: "On the panels, we didn't try to talk around it. We put the issue on the table early, worked through the path to a fix with both sides, and kept the transaction on track. Buyers in this market don't expect perfect buildings. They expect to know what they're buying and who they're dealing with." Neema Ahadian: "Representing both sides let us keep everyone aligned when the deal got complicated. A 1031 buyer with a real deadline and a seller who was fully engaged in operations is a combination that closes."