They Paid $10.3M. It Just Sold for $7M.
And the Buyer Is Quietly Acquiring While LA Apartments Reprice.
At a glance
confirmed at close
3 studios · 18 two-bed
per door
26,450 gross SF
at close, confirmed
at close, confirmed
reinforced concrete
at close
Measure ULA, above threshold
Southview Investment Co.
What matters
- Same buyer. Same seller.Xenon Investments-Oxford Garden Apartments bought from Southview Investment Company on August 27, 2026. Two days earlier the same parties closed the 1988 Westwood 21-unit at 1345 S Beverly Glen.
- $80,000 less a door than Westwood.$332,381 a door versus $411,905 on Glen. About $80,000 less a door. Per foot is almost a tie: $263.89 here, $267.67 on Glen. Glen's units average 1,325 square feet. These average 1,160.
- 2014 is not RSO.Los Angeles rent stabilization stops at 1978.
- Mix, parking, ULA.Three studios at 624 square feet and 18 two-bedrooms at 1,250. 36 Parking spaces. Atlas estimates ULA at $279,200 on the $6.98 million close. Gross building area is 26,450 square feet.
The Setup
21 units: 3 studios averaging 624 SF and 18 two-bedrooms averaging 1,250 SF. Gross building is 26,450 SF on a 15,246 SF lot.
What an Operator Sees
Same buyer, same seller, two days apart: Xenon takes Southview's 2014 Sherman Oaks twenty-one-unit at $332,381 a door after paying about $412,000 a door for the 1988 Westwood building — and this asset is roughly 32% below its August 2021 $10.275 million trade.
A repeat buyer is writing checks while the prior peak basis collapses. CoStar prints a 5.26% actual cap and a 10.36 GRM; I still want the T-12.
While the market debates whether Los Angeles multifamily is cheap yet, Xenon's paired buys answer with a portfolio bid. Newer Valley product clearing about $80,000 a door under Westwood tells me the discount is zip code and unit size — and 2021 peak sellers may have to accept that reset to exit.
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.
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Property and transaction data: CoStar Research.
Write to David Safai at David@AtlasBrief.La
Appeared in the Sept. 5, 2026 edition of The Tape.