Los Angeles, CA – July 9, 2021 – Yair Haimoff, SIOR, Executive Managing Director of Spectrum Commercial Real Estate, Inc., is pleased to announce the recent sale of two multi-family buildings located in prime West Los Angeles, CA.
Haimoff represented the buyer on the portfolio sale.
The first building is a six-unit, two-story investment property located at 1224 South Barrington Avenue. It is approximately 8,992 sq. ft., and it is situated on an approximately .14-acre, LAR3-zoned parcel. The building is comprised of five two-bedroom units and one penthouse three-bedroom unit that spans a full floor. The structure was built in 1973, and it presents a value-add opportunity with the potential to increase rents after interior renovations.
The Barrington property is located near the corner of Barrington Avenue and Wilshire Boulevard. It is in a prime West Los Angeles location minutes from UCLA, Santa Monica Pier, Santa Monica Municipal Airport, and the Getty Center. This site is close to a host of amenities located in Westwood Village, Sawtelle Avenue Japan-town, and Santa Monica. This location provides easy access to the I-405 freeway and Pacific Coast Highway.
The second building is a five-unit, two-story investment property located at 10360-10364 Ashton Avenue. It is approximately 4,113 sq. ft., and it is situated on an approximately .11-acre, LARD 1.5-zoned parcel. The building is comprised of four one-bedroom units and one two-bedroom
unit. The structure was built in 1941, and it presents the potential to grow current rents through renovation.
The Ashton property is located near the corner of Ashton Avenue and Beverly Glen Boulevard. This property is also in a prime West Los Angeles location minutes from UCLA, the Los Angeles Country Club, Rodeo Drive, Westfield Century City, and Cedars-Sinai Medical Center. This location provides easy access to SR-2 and I-405.
The buildings sold for a combined purchase price of $6,800,000.
Call broker for more information.
About Spectrum Commercial Real Estate, Inc.
Spectrum Commercial Real Estate Inc., founded in 2018 and headquartered in Valencia and Woodland Hills, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a pioneering approach to brokerage services. The firm’s full spectrum of services includes tenant and landlord rep, leasing, sales (owner-user and investments), 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, build-to-suit developments, debt/equity, and providing clients with exceptional brokerage services. For more information, visit www.Spectrumcre.com