818 S Gretna Green Way - Apartments FOR SALE


Los Angeles, CA 90049- West Los Angeles
$21,000,000 USD
310-550-2592
818 S Gretna Green Way, Los Angeles, CA for Sale
$21,000,000 USD
Apartments - FOR SALE
1/12
null | 4.14% Cap Rate

818 S Gretna Green Way
Los Angeles, CA 90049
West Los Angeles


HIGHLIGHTS

  • Prime Brentwood Location
  • 100 Ft from the Sunday Brentwood Farmers Market

OVERVIEW

CBRE Inc., as exclusive advisor to the Seller, is proud to present 818 Gretna Green Way in prime Brentwood, Los Angeles. A luxury 27-unit multifamily asset, 818 Gretna Green Way presents a generational opportunity to acquire spacious, premium units in an irreplaceable ‘A+’ location. Ownership has meticulously maintained the property, updating and adding in-unit washer and dryers. Generously-sized apartments average nearly 1600 square feet and feature large balconies, central heat/air and secure perimeter entry and parking. Current rents average $2.82 per square foot leaving significant update of approximately 33% on the table for a buyer to realize. The property is separately metered for gas and electricity and a buyer would be wise to implement RUBS billing on landlord-paid utilities moving forward. Due to a Luxury Housing Accommodation related to significant capital improvements,13 units-or about half of the total-are exempt from Los Angeles City Rent Control. Subject only to California State AB1482, these units offer ownership greater control over tenancy and the ability to increase rents annually at nearly 9%. 818 Gretna Green Way is situated in a prime area of Brentwood, adjacent to the renowned Brentwood Country Club and 100 feet away from the Sunday Brentwood Farmers Market. Brentwood enjoys a long-standing reputation as one of Los Angeles’ most affluent and desirable residential areas. This area has evolved into an elegant and understated neighborhood known for its spacious homes, tree-lined streets, and well maintained parks. It has attracted a discerning population, including many celebrities and professionals seeking a tranquil yet conveniently located environment. Institutions like the Brentwood Country Club and the proximity to cultural landmarks such as the Getty Center further enhance its prestige. While it has experienced moments of notoriety, the overall reputation of Brentwood remains one of quiet affluence, offering a high quality of life with a strong sense of community. The walkability of the neighborhood around 818 Gretna Green Way is a significant factor in it’s desirability to renters. This makes it easy to access the numerous upscale boutiques, trendy shops, and essential amenities that line nearby San Vicente Boulevard. Please visit the property website www.818gretnagreen.com to view the Offering Memorandum & Virtual Deal Room.

FOR SALE DETAILS

PRICE

$21,000,000 USD

PRICE/SF

$450 USD /SF

# OF UNITS

27

PRICE/UNIT

$777,778

CAP RATE

4.14%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

27 Units in Prime Brentwood

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1969

PARKING SPACES

48

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

19,844 SF

ZONING

LAR3

APN/PARCEL ID

4264-010-023

ASK ABOUT THIS PROPERTY

310-550-2592

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310-550-2592

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