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1301 S Beverly Glen Blvd 5 Unit Apartment Building $2,980,000 ($596,000/Unit) 4.08% Cap Rate Los Angeles, CA 90024
INVESTMENT HIGHLIGHTS
- Prime Business Hub
- Proximity to Entertainment and Media
- World-Class Retain and Dining
- Exceptional Accessibility
EXECUTIVE SUMMARY
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 wellmaintained
property with no deferred maintenance and strong existing
cash flow with an additional 31% 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
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 wellmaintained
property with no deferred maintenance and strong existing
cash flow with an additional 31% 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
PROPERTY FACTS
| Price | $2,980,000 | Apartment Style | Low-Rise |
| Price Per Unit | $596,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.08% | Building Size | 6,789 SF |
| Gross Rent Multiplier | 15.01 | Average Occupancy | 80% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1952 |
| Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
| Zoning | R3, Los Angeles - Residential | ||
| Price | $2,980,000 |
| Price Per Unit | $596,000 |
| Sale Type | Investment |
| Cap Rate | 4.08% |
| Gross Rent Multiplier | 15.01 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,789 SF |
| Average Occupancy | 80% |
| No. Stories | 3 |
| Year Built | 1952 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | R3, Los Angeles - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Ice Maker
- Oven
- Range
- Tub/Shower
- Views
- Deck
- Freezer
- Patio
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1.5 | 1 | - | 850 |
| 2+2 | 4 | - | 1,550 |
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PROPERTY TAXES
| Parcel Number | 4327-003-025 | Improvements Assessment | $723,296 |
| Land Assessment | $2,893,197 | Total Assessment | $3,616,493 |
PROPERTY TAXES
Parcel Number
4327-003-025
Land Assessment
$2,893,197
Improvements Assessment
$723,296
Total Assessment
$3,616,493
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1301 S Beverly Glen Blvd
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