1833 Westholme Ave, Los Angeles, CA 90025

Oct 28

Written by Jake Glaser

16-Unit Multifamily Property Near Century City | Spacious 1,293 SF Average Unit Size | One Unit + Office Delivered Vacant

Sold: $6,305,000

$394,063/Unit

$304.68/SF

5.61% Cap Rate

10.72 GRM

The Deal Story

CLOSING #31 OF THE YEAR 🚨

Sale Price: $6,305,000

Units: 16

Property Type: Three-story elevator building built in 1965; prime Century City location

Unit Mix: (8) 2+2+Den, (6) 2+2, (1) 2+1, (1) 1+1 units

Buyer Type: Experienced multifamily operator

Seller Situation: Self-managed the properties for over a decade; transferring equity into more passive investment vehicles

Result: Closed at $6,305,000 ($394k/Unit, 5.61% Cap Rate)

Special Features: Bonus approx. 500 SF office delivered vacant at close; select units already renovated; seismic soft-story retrofit completed December 2019; elevator and secure entry; gated parking with 8 single and 9 tandem spaces; on-site laundry income.

Case Study Summary

The Colonnade, a 16-unit, three-story elevator building at 1833 Westholme Avenue, sold for $6,305,000. Built in 1965, the property features unusually large floor plans averaging approximately 1,293 square feet per unit and was delivered with one unit and an approximately 500 SF office vacant. Ownership had already completed the seismic soft-story retrofit in 2019.

The seller had self-managed the property for over a decade as part of a five-building, 60-unit Westside portfolio near Century City, Beverly Hills, Westwood, and UCLA, and was looking to transfer that equity into more passive investment vehicles. The buyer is an experienced multifamily operator. Jake Glaser of Glaser Group, Jonathan Taksa of The Taksa Investment Group, and Kelly Brennan of Serhant represented the seller and buyer.

Property Highlights

The Colonnade, a 16-unit multifamily property in an ultra-prime Century City adjacent location
Part of a five-building, 60-unit Westside portfolio, available separately or together
Unit mix consists of:
- (1) 3BD/3BA
- (6) 2BD/2BA + Den
- (7) 2BD/2BA
- (1) 2BD/1BA
- (1) 1BD/1BA
Units average approximately 1,293 SF, among the larger floor plans in the submarket
Select units have undergone interior renovations
Renovated units feature large kitchens and walk-in closets
One unit delivered vacant at close of escrow, providing immediate renovation and market-rent upside
Former pool house converted to ~500 SF office/storage room in 2017, ADU potential. Delivered vacant.
Seismic soft-story retrofit completed December 9, 2019
Three-story elevator building
Secure-entry property
Gated on-site parking with (8) single spaces and (9) tandem spaces
On-site laundry provides additional income
A+ Westside location adjacent to Century City, Westwood, and Beverly Hills
Minutes from UCLA, UCLA Medical Center, Westfield Century City Mall, and Rancho Park Golf Course
Part of a broader five-building, 60-unit Westside portfolio