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$4,500,000
Est. payment /mo
11,981 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 11,981 sqft
Price per Sqft $375
MLS Listing ID CL26850603
HOA Y/N No
Year Built 1998
Lot Size 6,755 Sqft
Acres 0.1551
Property Sub-Type Other
Property Description
AMAZING PRICE & LOCATION! Discover an unparalleled investment opportunity in this contemporary 8-unit apartment complex (all 2 Bdr + 2 Bath) in prime sought-after Westwood location, held by the same ownership for over two decades, nestled on a beautiful, tree-lined street directly adjacent to premier single-family home district, boasting an exceptionally walkable neighborhood. Built in 1998, the property falls outside the City of Los Angeles' Rent Stabilization Ordinance (non-RSO) and is instead subject to the statewide Tenant Protection Act (AB 1482) a meaningful advantage for ownership, offering considerably more latitude to bring rents to market than is typical for multifamily assets in Westwood. Each residence features one of three thoughtfully designed two-bedroom, two-bath (2+2) configurations, bright and open floorplans, where most units' bedrooms feature en suite bathrooms, each equipped with washer and dryer, central heating and air conditioning, and the peace of mind of a fully sprinklered building. This varied product mix not only broadens tenant appeal, but also mitigates vacancy risk, optimizes rent premiums, and enhances overall portfolio stability. The property recently underwent comprehensive repairs across all residential units, representing an investment of over $250,000, presenting a rare, worry-free acquisition in a submarket where older housing stock frequently carries hidden capital needs. Ideally situated mere minutes from UCLA's academic and cultural hub, Westfield Century City's world-class dining, shopping, and entertainment, and the luxury boutiques of Beverly Hills' Rodeo Drive, with 99 Ranch Market and Whole Foods conveniently close by, this turnkey and easy-to-manage multifamily asset is fully stabilized (zero vacancy) with quality tenants in place, delivering exceptional cash flow and strong rent growth supported by its premier location. Potential ADU upside for a future owner to add a studio or 1-bedroom (buyer to independently verify) and generate more income. With significant embedded rental upside and value-add potential through minor cosmetic or technology enhancements, this boutique multifamily property promises both immediate returns and substantial long-term appreciation.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 4321011038
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Listed by Felix Wong • Sunshine Realty