SUCCESS STORY
Record Setting Sale in Century City
1635 S Beverly Glen Blvd.
This sale marks the highest PPU sale in 90024 (6+ unit properties) over the past two years.
Price
$
4,555,000
City
Century City
Current Cap Rate
3.98
%
Price P/ Unit
$
650,714
Lot Size
6,760
SF
1635 s beverly glen
About the Property
1635 S Beverly Glen is a turnkey property in a prime Century City location, approx. 0.4 miles from Westfield Century City; adjacent to Westwood, Beverly Hills, and Rancho Park. Interiors of select units have been meticulously upgraded with modern touches. Remodeled units featured hardwood floors, stainless-steel appliances, granite countertops, custom cabinets, central A/C, and a Miele washer/dryer. Approx. 10 parking spaces, 5 garage spaces and 5 open spaces. Two blocks west of the METRO Purple Line subway extension located at Constellation Boulevard (est. completion by 2025).
Price
$
4,555,000
City
Century City
Current Cap Rate
3.98
%
Price P/ Unit
$
650,714
Lot Size
6,760
SF
Background
This West LA turnkey asset featured spacious renovated units having condo-like finishes and was located just steps from Westfield Century City. Having captured a majority of the upside, the Seller contacted Kenny Stevens Team to trade into his next value-add project.
Result
Given the ‘Grade A’ location and quality of renovations, this property drew significant interest from our investor database. After being on the market for three weeks, Kenny generated multiple offers and the Seller was thrilled to accept an offer at $4.555M. Escrow opened in mid-October and closed 60 days later. At $650,714 per door, the sale of 1635 S. Beverly Glen markets the HIGHEST PPU sale in 90024 for multifamily properties (6+ units) over the past two years.
