MW Real Estate Explodes Into 2013 With Successful Dual Representation In Consecutive Closings

Jan. 28, 2013 - PRLog -- To keep with the momentum that they ended the 2012 calendar year with, MW Real Estate Group is continuing to standout in the California real estate industry as they consistently deliver best commercial real estate brokerage and property management practices.  MW Real Estate Group has announced the closing of two significant transactions between Monday, January 14 and Friday, January 18.  

On January 15, Wolf Baschung, CCIM, CPM, and President of MW Real Estate Group, in association with KW Commercial closed the sale of a 7 town home, 7,057 sq. feet multifamily complex located at 7721 St. Bernard Street, Playa del Rey, CA.  The property traded at $2,050,000 or $292,857 per unit and 13.64 times the annual income.  Built in 1962, the complex consists of six 2-bed/1.5 bath two level town homes and one 2-bed/2 bath unit.  Baschung represented buyer and seller in this transaction.  

“Buyer and seller were both very satisfied with this transaction,” said Baschung.  “At 13.64 x Gross, this was an excellent deal for the seller.  However, with acquisition interest rates close to 2% for the buyer, great upside potential this asset, and the property location in the inventory constrained Los Angeles beach side communities, the buyer also felt he was able to obtain a great buy.”

To conclude the stellar week, Baschung also closed the first of a USC student housing portfolio consisting of six separate 1920’s properties under five units being sold in a short sale.  The first, a small duplex close to North University Park with seven USC student rooms, sold for $230,000.  Again, Baschung represented both buy and seller.  

Founded in 2010, MW Real Estate Group, headed by President Wolf Baschung, CCIM, CPM, prides themselves on relentlessly striving to provide their clients with the most cost efficient real estate solutions in terms of investing, buying and selling, and property management.  

In February of 2011, MW Real Estate Group joined forces with KW Commercial Los Feliz/Downtown LA, combining the best of both companies’ state-of-the-art systems, tools and business development resources.  Since the merger with KW Baschung has secured more than $16.5 M in commercial listings.

To learn more about the services offered by MW Real Estate, view their blog or get in contact with Mr. Baschung or one of the other team members, visit www.mwrealtyla.com.  
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