About The Property

1635 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).

Stats

Price $4,555,000

City Century City

Sq. ft. 8,123 SF

Units 7

Current CAP 3.98%

Price p/ Sq. ft. $561

Price P/ Unit $650,714

Background

This West LA turnkey asset features spacious renovated units having condo-like finishes and is 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.

Speaking for myself and everyone involved, you were absolutely the best broker we could have selected to market our portfolio. You found an incredible buyer and were able to guide us through so many challenges, including a global pandemic, and secured us a price beyond our expectations.

- Seller (60 Units by The Grove)

“I cannot say enough great things about KST. They take care of you, they have the connections needed, and they get the job done! We were amazed at how quickly our sale went through during the COVID pandemic.”

- Seller (4 Units in Beverly Grove)

“It was truly a pleasure working with Kenny. He is professional, honest, hardworking and most importantly did what he said he would. Kenny sold the property at list price in less than 60 days from start to finish.”

- Seller (Beachfront Generational Asset in Playa del Rey)

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