The Location
The one-mile demographic ring shows 32,478 residents with a median household income of $123,584 , making this a solid A Location.
What an Operator Sees
My take: tracking, not buying. $411,905 a door for 21 two-bedrooms at $267.67 a foot is a real number, and 1,325 square feet per unit is rare stock in Westwood. What I do not have is income, so I cannot tell you what this actually yields. This is AB1482 so I know the owner can push rents up and work their way to $3500-4000 a unit, creating an opportunity for the new owner to get to above a 6 Cap on cost.
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.