1246 S Saltair Ave, Los Angeles, CA 90025

8 Units in Prime West LA | Sold at 100% of List Price

Sold: $2,450,000

Property Highlights

Sold for 100% of List Price; $567/SF, 12.48 GRM and 5% Cap Rate
Achieved top-of-market pricing: second highest $/sqft in 90025 over the past 12 months
Represented both Buyer and Seller, coordinating financing with Chase for a seamless closing
8-units in an ultra prime Brentwood adjacent location
Two separate structures with classic mid-century charm
Unit mix consists of (8) 1BR/1BA units
Laundry room on-site brings in additional cash flow
Units have undergone tasteful unit renovations including hardwood floors and mini-split HVAC systems
Close to Santa Monica Beach, UCLA, Westwood Village, and major employers in Century City
Parking can accommodate 7 vehicles with 5 uncovered spaces in the rear and 2 in the front

The Deal Story

The Glaser Group is proud to announce the successful closing of 1246 S Saltair Avenue, an 8-unit multifamily property in the heart of West Los Angeles, just steps from Brentwood. Built in 1955/1958, the property consists of two separate 4-unit buildings and recently underwent extensive capital improvements, with 5 of the 8 units remodeled in the past three years. The property features seven on-site parking spaces and a building-owned laundry facility. Our team closed this sale at 100% of list price, representing a 5% cap rate at $567/SF!

The Sellers’ family had owned the property for 30 years. After decades of self-management and pursuing other investment opportunities, they decided it was time to pass on part of their family legacy to the next owner. They approached The Glaser Group due to our proven track record selling prime Westside apartment buildings.

The Buyers are local investors expanding their West LA portfolio. They plan to hold the asset long term and leverage the tax benefits of real estate ownership.

Following an initial marketing campaign, our team sourced the Buyer and generated a full-priced offer. This transaction represented the second highest price per square foot in the 90025 zip code over the past 12 months, demonstrating our ability to achieve top-of-market results. The Glaser Group represented both parties and helped coordinate financing with Chase to ensure a seamless closing.

If you’re considering a sale or acquisition, contact The Glaser Group at (310) 230-5157.