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Multifamily

3721 Westwood

3721 Westwood Blvd, Los Angeles, CA 90034

Listing Price: $7,400,000

Cap Rate
3.55%
Number of Units
21
Price/Unit
$352,381
Price/Gross SF
$469.90
Gross SF
15,748

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale for the first time in over 40 years 3721 Westwood (the “Property”), a 21-unit valueadd opportunity in Palms, a high growth submarket within the Greater Culver City area of Los Angeles County. Strategically located between Beverly Hills, Century City, Venice, Marina Del Rey, and Santa Monica, 3721 Westwood provides residents strategic access to a wide array of lifestyle amenities in Westside and Downtown Culver City, as well as strong job opportunities as many of the world’s largest companies including Google, Apple, Tesla, and Amazon have signed “mega-lease” deals in the area within the last several years. The mounting demand for luxury housing as a result of the region’s growth combined with the un-renovated unit interiors and long-term family ownership makes 3721 Westwood a highly sought-after offering poised to deliver above-average rent growth and appreciation.

Investment Highlights

  • FIRST TIME OFFERED FOR SALE IN OVER 40 YEARS – Investors are offered the rare chance to acquire an apartment building that's been held by the same family for over 40 years
  • OVER 35% OF OPERATIONAL AND RENOVATION UPSIDE – Although well-maintained, 3721 Westwood offers a clear opportunity to raise revenue approximately 35% through luxury upgrades.
  • VALUE PROPOSITION VS. NEW CONSTRUCTION – Post renovation, 3721 Westwood will offer strategic rental price points that are insulated by as much as 30% from the growing base of new construction.
  • APPLE DOUBLES DOWN ON CULVER CITY FOOTPRINT – The area's impressive array of tech titans looking to grow their presence is confirmed by Apple announcement to triple their Culver City footprint to over 3,000 employees
  • HOME PRICING IN THE IMMEDIATE AREA PUTS OWNERSHIP OUT OF REACH – Single family home prices have risen over 60% during the last five years, putting the dream of home ownership out of reach for many which is creating tremendous demand for luxury rental living.
  • $5B OF DEVELOPMENT ELEVATING THE MARKET – Over $5 billion of world class development in creative office, industrial, retail, and residential surrounds the Property and is elevating demand for luxury housing.

Exclusively Listed By

Listing Price: $7,400,000

Cap Rate
3.55%
Number of Units
21
Price/Unit
$352,381
Price/Gross SF
$469.90
Gross SF
15,748

Investment Highlights

  • FIRST TIME OFFERED FOR SALE IN OVER 40 YEARS – Investors are offered the rare chance to acquire an apartment building that's been held by the same family for over 40 years
  • OVER 35% OF OPERATIONAL AND RENOVATION UPSIDE – Although well-maintained, 3721 Westwood offers a clear opportunity to raise revenue approximately 35% through luxury upgrades.
  • VALUE PROPOSITION VS. NEW CONSTRUCTION – Post renovation, 3721 Westwood will offer strategic rental price points that are insulated by as much as 30% from the growing base of new construction.
  • APPLE DOUBLES DOWN ON CULVER CITY FOOTPRINT – The area's impressive array of tech titans looking to grow their presence is confirmed by Apple announcement to triple their Culver City footprint to over 3,000 employees
  • HOME PRICING IN THE IMMEDIATE AREA PUTS OWNERSHIP OUT OF REACH – Single family home prices have risen over 60% during the last five years, putting the dream of home ownership out of reach for many which is creating tremendous demand for luxury rental living.
  • $5B OF DEVELOPMENT ELEVATING THE MARKET – Over $5 billion of world class development in creative office, industrial, retail, and residential surrounds the Property and is elevating demand for luxury housing.

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale for the first time in over 40 years 3721 Westwood (the “Property”), a 21-unit valueadd opportunity in Palms, a high growth submarket within the Greater Culver City area of Los Angeles County. Strategically located between Beverly Hills, Century City, Venice, Marina Del Rey, and Santa Monica, 3721 Westwood provides residents strategic access to a wide array of lifestyle amenities in Westside and Downtown Culver City, as well as strong job opportunities as many of the world’s largest companies including Google, Apple, Tesla, and Amazon have signed “mega-lease” deals in the area within the last several years. The mounting demand for luxury housing as a result of the region’s growth combined with the un-renovated unit interiors and long-term family ownership makes 3721 Westwood a highly sought-after offering poised to deliver above-average rent growth and appreciation.

Exclusively Listed By

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