1301 S Beverly Glen Blvd - Apartments FOR SALE


Los Angeles, CA 90024- Westwood
$3,250,000 USD
310-909-5406
1301 S Beverly Glen Blvd, Los Angeles, CA for Sale
$3,250,000 USD
Apartments - FOR SALE
1/15
null | 3.6% Cap Rate

1301 S Beverly Glen Blvd
Los Angeles, CA 90024
Westwood


HIGHLIGHTS

  • The Neema Group of Marcus & Millichap is pleased to present a multifamily investment opportunity in an A+ trophy location on a corner lot
  • The property features five spacious units, three 1+1.5’s and two 2+2’s with 12 parking spaces, including three double garages
  • All units have private outdoor space; three of five units have large patios facing S Beverly Glen with unbeatable views of Century City
  • One of the renovated one-bedrooms (850 SF) will be delivered vacant at the close of escrow; ideal for an owner user or opportunity to rent at market

OVERVIEW

The Neema Group of Marcus & Millichap is pleased to present a multifamily investment opportunity in an A+ trophy location on a corner lot at 1301 S Beverly Glen Blvd in Westwood located between Santa Monica Blvd and Wilshire Blvd and less than a mile from Century City and the Wilshire Corridor. The property features five spacious units, three 1+1.5’s and two 2+2’s with 12 parking spaces, including three double garages; three units have been extensively renovated with in-unit washers and dryers, recessed lighting, new double-pane windows, base moldings, hardwood floors, stainless-steel appliances, custom dark wood cabinetry, double sink vanities, tile showers with separate tubs, central heat and air, and new electrical and plumbing. All units have private outdoor space; three of five units have large patios facing S Beverly Glen with unbeatable views of Century City. One of the renovated one-bedrooms (850 SF) will be delivered vacant at the close of escrow; ideal for an owner user or opportunity to rent at market immediately. This offering represents an exceptional opportunity to acquire a well-maintained property with no deferred maintenance and strong existing cash flow with an additional 33% rental upside achievable as the proven renovation plan is continued. Ideal location for residents to commute to nearby employment hubs and commutes to Downtown Westwood, Century City, Beverly Hills, West Hollywood, and the Westside. Located in an affluent neighborhood with a significant affordability gap between renting and home ownership; within a two-mile radius of 1301 S Beverly Glen Blvd, the median home value is over $1.1 million, and the average household income is over $132,000. Located just minutes from one of Los Angeles’ premier shopping and lifestyle destinations, Westfield Century City, featuring luxury retailers, top-tier dining, and entertainment options.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$479 USD /SF

# OF UNITS

5

PRICE/UNIT

$650,000

CAP RATE

3.6%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1952

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,135 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

4327-003-025

ASK ABOUT THIS PROPERTY

Patricia EscobarMarcus & MillichapMore Info
310-909-5406

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Patricia EscobarMarcus & MillichapMore Info
310-909-5406

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.