1202 S Cochran Ave, Los Angeles, CA 90019

Luxury 6-Unit in Mid-Wilshire | All Cash Closing at 98% of List Price

Sold: $2,335,000

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THE DEAL STORY

CLOSING #20 OF THE YEAR

Sale Price: $2,335,000

Units: 6

Property Type: Condo quality 6-unit property, built in 1939, on an oversized 10,213 SF R3 corner lot

Unit Mix: (4) 1-bed / 1-bath & (2) 2-bed / 1-bath units, averaging ~1,225 SF each (~7,348 SF total)

Buyer Type: LA-based first time multifamily investor

Seller Situation: Owner of over a decade, self-managed; decided to move on and diversify into more passive investments

Result: Closed at 98% of list price, all-cash

Special Features: Condo-quality renovations throughout (hardwood floors, stainless Viking appliances, granite counters, marble baths, whirlpool tubs); major systems upgrades (copper plumbing, updated electrical, dual-pane windows, central HVAC); ADU potential under SB-1211 (buyer to verify)

Case Study Summary
This meticulously maintained 6-unit property in Mid-Wilshire sold for $2,335,000 ($317.77/SF, $389,166/unit, 6.43% cap rate, 10.72 GRM). Built in 1939 on an oversized 10,213 SF R3 corner lot, the asset features condo-quality renovated units averaging 1,225 square feet, with major systems upgrades including copper plumbing and central HVAC throughout. Glaser Group negotiated an original full-price & all-cash offer, ultimately closing at 98% of list price.

The seller had owned and self-managed the property for over a decade before deciding to move on and shift into more passive investments. After briefly removing the listing from the market, a broker reached out to our team on behalf of a client searching for a well-maintained, fully occupied, cash-flowing asset with minimal capital needs - a fit we recognized immediately.

The buyer, represented by Kevin Pankow and Josh Altman of the Altman Brothers, was completing their first multifamily acquisition in Los Angeles after previously owning real estate in other states. The Glaser Group represented the seller and coordinated the escrow to closing.

Property Highlights

6 luxury units with condo-quality finishes in built in 1939
Large 7,348 SqFt property; units averaging 1,225 Square Feet each
All kitchens remodeled with and hardwood floors, stainless steel appliances, granite countertops, travertine floors, recessed lighting
Bathrooms remodeled with marble counters, stall showers with body sprayers, whirlpool tubs & travertine floors
Major structural upgrades include copper plumbing & upgraded electrical, newer dual-glazed windows & central heating and A/C systems
All units come with in-unit washer/dryer
Strong mix of (4) 1BR/1BA and (2) 2BR/1BA units
Oversized corner lot; 10,213 square feet of R3 land
(2) 2-car garages, (2) 1-car garages and room for (2-4) additional uncovered spaces
Prime Mid-Wilshire location north of San Vicente Blvd
Low maintenance landscaping and tenants pay for trash
Strong ADU potential with detached garages and additional room on the large corner lot; potential SB-1211 opportunity