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1421 & 1427 Barry Avenue 2 Multifamily Properties Offered at $9,250,000 in Los Angeles, CA
Investment Highlights
- Two adjacent buildings totaling 18 units and 56 beds, fully renovated in 2022 into turnkey co-living suites.
- Master lease with Kaplan International through July 2027 for 35 beds, providing stable income; remaining beds marketed for rent.
- Walk Score of 90 with easy access to Metro E Line, major bus routes, and retail along Wilshire and Santa Monica Boulevards.
- Modern finishes and amenities including en-suite bathrooms, stainless steel appliances, smart locks, in-unit laundry, and select private balconies.
- Prime West LA location less than three miles from UCLA and near major employment hubs like Brentwood, Century City, and Santa Monica.
- 18 parking spaces with potential for additional income.
Executive Summary
The Neema Group of Marcus & Millichap and Mission Capital Advisors are pleased to present the REO sale of 1421 & 1427 Barry Avenue, a turnkey student housing investment opportunity located in prime West Los Angeles between Wilshire Boulevard and Santa Monica Boulevard.
The offering consists of two adjacent buildings totaling 18 units and 56 beds. Originally traditional multifamily, the properties were converted in 2022 to fully furnished co-living suites and extensively renovated with modern finishes and amenities. Renovations include en-suite bathrooms, European-style cabinetry, vinyl plank flooring, stainless steel appliances, private refrigerators and freezers, Samsung Smart TVs, recessed lighting, individual HVAC controls, smart locks, shared in-unit washers and dryers, and private balconies in select units. All suites are delivered fully furnished.
The property is currently occupied by Kaplan International, a global education provider and subsidiary of Graham Holdings Company, under a master lease structure. Kaplan has extended its occupancy through July 31, 2027 for 35 beds (approximately 63% of total beds) at a monthly rent of $82,353, providing stable in-place income. The remaining beds are being marketed for rent. The asset includes 18 parking spaces that are currently underutilized, offering additional income upside.
Ideally positioned less than three miles from UCLA and within minutes of major employment hubs including Brentwood, Century City, Beverly Hills, Santa Monica, and Culver City. The property is also within walking distance of the West Los Angeles VA Medical Center. The location boasts a Walk Score of 90 and is approximately one mile from the Metro E (Expo) Line, with convenient access to multiple bus lines along Barrington Avenue and Santa Monica Boulevard. Major retail amenities and dining options are within walking distance along Wilshire and Santa Monica Boulevards.
This offering represents a rare opportunity to acquire a recently renovated, turnkey student housing asset with institutional tenancy and income stability in one of Los Angeles’ most supply-constrained and high-demand rental markets
The offering consists of two adjacent buildings totaling 18 units and 56 beds. Originally traditional multifamily, the properties were converted in 2022 to fully furnished co-living suites and extensively renovated with modern finishes and amenities. Renovations include en-suite bathrooms, European-style cabinetry, vinyl plank flooring, stainless steel appliances, private refrigerators and freezers, Samsung Smart TVs, recessed lighting, individual HVAC controls, smart locks, shared in-unit washers and dryers, and private balconies in select units. All suites are delivered fully furnished.
The property is currently occupied by Kaplan International, a global education provider and subsidiary of Graham Holdings Company, under a master lease structure. Kaplan has extended its occupancy through July 31, 2027 for 35 beds (approximately 63% of total beds) at a monthly rent of $82,353, providing stable in-place income. The remaining beds are being marketed for rent. The asset includes 18 parking spaces that are currently underutilized, offering additional income upside.
Ideally positioned less than three miles from UCLA and within minutes of major employment hubs including Brentwood, Century City, Beverly Hills, Santa Monica, and Culver City. The property is also within walking distance of the West Los Angeles VA Medical Center. The location boasts a Walk Score of 90 and is approximately one mile from the Metro E (Expo) Line, with convenient access to multiple bus lines along Barrington Avenue and Santa Monica Boulevard. Major retail amenities and dining options are within walking distance along Wilshire and Santa Monica Boulevards.
This offering represents a rare opportunity to acquire a recently renovated, turnkey student housing asset with institutional tenancy and income stability in one of Los Angeles’ most supply-constrained and high-demand rental markets
Taxes & Operating Expenses (Actual - 2025) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $9,250,000 | Status | Active |
| Price / SF | $619.81 / SF | Number of Properties | 2 |
| Sale Condition | REO Sale | Individually For Sale | 0 |
| Cap Rate | 9.19% | Total Building Size | 14,924 SF |
| Sale Type | Investment | Total Land Area | 0.32 AC |
| Price | $9,250,000 |
| Price / SF | $619.81 / SF |
| Sale Condition | REO Sale |
| Cap Rate | 9.19% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 14,924 SF |
| Total Land Area | 0.32 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Olive at Barry
1427 Barry Ave, Los Angeles, CA 90025 |
Multifamily | 7,880 SF | 1968 | - |
|
Willow Co-Living
1421 Barry Ave, Los Angeles, CA 90025 |
Multifamily | 7,044 SF | 1961 | - |
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Contacts
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Neema Ahadian -
Jeffrey Estrada -
Spencer Kirsch -
Oliver Harris -
Marcus & Millichap
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1421 & 1427 Barry Avenue
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