Kelly Morgan Commercial Group (KMCG) Sells 57 Unit Portfolio in Panorama City for $11MM
PANORAMA CITY, Calif., Aug. 26, 2021 /PRNewswire/ -- Kelly Morgan Commercial Group (KMCG) & KW Commercial are pleased to announce the sale of a 57-unit multi-family portfolio located at 8801 & 8759 Tobias Avenue in Panorama City, California. The sale consisted of two properties, with 22 and 35 units, that sold for just under $11,000,000.
Kelly Morgan stated "The portfolio was originally under contract as a lease/purchase option prior to the pandemic and went through many negotiations ultimately leading to a cancellation of contract. The lease/purchase option was the longest negotiation our team has ever worked on, for it not to work out was unfortunate. Fortunately, because of our large database of investors/clients we were able to bring the Seller a new Buyer and still complete the sale for $11MM."
About Kelly Morgan Commercial Group
With over 20 years of focused exploration and experience in capital markets such as Equity, Debt and Real Estate combined with Advertising and Marketing, Kelly Morgan Commercial Group brings a unique and unparalleled approach to the marketplace. We have dedicated ourselves to the deep understanding of the Southern California real estate market by taking the time to walk, examine, and analyze our landscape of submarkets.
Our client's best interest is our priority. Real estate marketing intelligence infused with financial planning has allowed us to help our clients make informed decisions about their real estate investment options. Our educated agents work hard to get our sellers the highest price. Relationships and expertise are keys to creating Investment Property Wealth. Please feel free to contact us for a free property evaluation.
For information contact:
Aaron Barnhardt
[email protected]
818-579-2978
SOURCE Kelly Morgan Commercial Group
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