SoldBroker Activity · Entry № 118

29 Three-Beds, $667K/Door, Half of a West LA Portfolio.

The other half of a $46 million West LA portfolio.

PublishedAugust 2026
StatusSold · Closed April 1, 2026
DatelineThe Tape · Brentwood, Los Angeles
11848-11860 Kiowa Ave hero photo
LISTING PHOTO VIA COSTAR.
Four takeawaysFour things an operator reads first
  1. CoStar shows $19,348,500 as an allocated price on April 1.Same $46.35 million portfolio as 11911 Mayfield. Same 11% cut off a $52 million ask.
  2. 29 units. All three-beds at 1,725 SF.$667,190 a door. $363 a foot. 53,362 SF. Four stories. Built 1968. West LA. That is rent control. LARSO applies.
  3. Same buyer. KZL LLC. Same seller. MLT Properties.They held this one 156 months. About 13 years. Same brokers. Zach Friedman buy side. Tony Azzi and Rabbie Banafsheha listing.
  4. CoStar shows a 4.89% cap on the portfolio.No GRM. No NOI on this building. 1968 next to a 2007. Two different rent-law paths in one package.
Deal Stats · 11848-11860 Kiowa Ave
Sale Price
$19,348,500
closed April 1, 2026
Units
29
unit mix not disclosed
Price / Unit
$667,190
per door
Price / SF
$362.59
per SF (gross)
CAP (Current)
4.89%
at close, broker-stated
Year Built
1968
LARSO applies
RSO Status
Yes
full rent stabilization
ULA Tax Est.
$1,064,168
Measure ULA, above threshold
Portfolio Price
$46,350,000
60 units, 2 buildings
Initial Ask
$52,000,000
portfolio ask, Jan 28 2026
Bid-Ask Gap
$5,650,000
10.9% below ask
Seller
MLT Properties
Regional Developer

The Location

Kiowa Avenue sits in the Brentwood pocket bounded by Sunset Boulevard to the north and San Vicente to the south, one of the tighter rental corridors in the 90049 zip.  

Brentwood commands among the highest apartment rents on the Westside, with proximity to UCLA, Santa Monica's employment base, and a walkable Brentwood Village retail strip. 

Tenants here are professionals and graduate students, not transient renters. 

What an Operator Sees

The 1968 side.

All three-beds.

Rent control.

The other building is 2007.  I will be publishing that one next.

I'm keeping the mix, location and the year.

I research these transactions to sharpen my own investment strategy and share what I find so Los Angeles owners, brokers and investors can debate the market with better information.

Know one other LA owner who'd want this deal? Forward this — reply with their email and I'll add them.

Property and transaction data: CoStar Research.

Brokers
Listing Broker
Tony Azzi
Executive Managing Director Investments
Marcus & Millichap
Buyer Broker
Zach Friedman
Miller & Desatnik Realty Corp.
Written from the field

David Safai, operator, developer, GC.

Atlas Home Builders, Inc. is a Los Angeles owner-operator and general contractor. If you are a broker with a listing you want an honest read on, send the OM and the T-12 to David@AtlasBrief.La.