1815 Greenfield Ave, Los Angeles, CA 90025

Property Description

Coming to market for the first time in 70 years, 1815 Greenfield Avenue is a 6-unit value-add apartment building ideally located in one of West Los Angeles' most sought-after and supply-constrained residential neighborhoods. Built in 1954, this property provides a low basis asset in one of the most centrally positioned, high barrier-to-entry rental markets on the Westside. Situated on an 8,277 square foot lot, the property totals 4,267 square feet of gross building area across a single building, averaging 711 square feet per unit. The unit mix consists of four (4) one-bedroom/one-bath units and two (2) two-bedroom/one-bath units, one (1) of the two-bedroom one bath units will be delivered vacant at the close of escrow. West Los Angeles' enduring Westside appeal further strengthens the investment profile. The property sits just south of Santa Monica Boulevard within one of the most walkable and amenity-rich residential corridors in the city. Residents enjoy immediate access to the acclaimed restaurants and shops of Sawtelle Japantown, the dining and cultural destinations of the Westwood Boulevard corridor, and the retail of Westfield Century City. Westwood Park and the Stoner Recreation Center are nearby, and the beaches of Santa Monica are only minutes away. Immediate access to the 405 Freeway, the nearby 10 Freeway, and the Metro E Line's Expo/Sepulveda station connects residents to major employment hubs at UCLA, Ronald Reagan UCLA Medical Center, the West Los Angeles VA Medical Center, Century City, and Silicon Beach, ensuring sustained demand from a deep and highly qualified renter pool. With its prime Greenfield Avenue address, efficient one- and two-bedroom unit mix, strong in-place income, supplemental laundry income, and seven decades of single ownership, 1815 Greenfield Avenue presents a unique opportunity to acquire a value-add asset in one of the most supply-constrained and enduring submarkets in Los Angeles.