The Location
Mayfield Avenue sits one block south of Sunset Boulevard in the Brentwood-adjacent pocket of West Los Angeles, zip code
90049. This is some of the most liquid rental land in the city.
Daytime employment within three miles is nearly 245,000 workers.
1911 Mayfield is a three-story, built in 2007, 58,164 gross square feet on a 23,213 SF lot.
The AB 1482 and ULA Math
Because this building was completed in 2007, it sits outside LARSO.
AB 1482 applies. Annual rent increases are capped at 5% plus local CPI, with a hard ceiling of 10%.
Measure ULA assessed a transfer tax of $1,485,083 at close.
What an Operator Sees
Half a portfolio.
2007. No RSO.
$871,000 a door is not a cheap door. I like this number and it shows how valuable Brentwood is.
I don't have this building by itself. This is half of a combined $46M Sale.
I'm keeping the year and the package price.
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.