Rekal Court Apartments - 12756 & 12800 Moorpark St, Studio City, CA 91604 — Glaser Group | Los Angeles Multifamily Real Estate Broker

28 Units Across 2 Parcels in Prime Studio City

Sold: $5,650,000

Property Highlights

Closed in 14-days, all-cash, with zero contingencies
Sold at strong metrics: 5.30% Cap Rate | 10.36 GRM | $201,786/Unit | $325/SF
28-unit mid-century multifamily complex
Comprised of two separate parcels with a 10-unit property and an 18-unit property on each
Sits on over 27,000 SqFt of R3 zoned land
36 total parking spaces across the two assets (15 beneath the 12756 Building & 21 tucked under the 12800 Building)
Onsite amenities including laundry facilities and a swimming pool in the 12800 building
Significant 34% upside in rents; strong value-add opportunity
1-bed units averaging approximately $1,475/mo and the 2-bed units averaging approximately $1775/mo
Soft-story earthquake retrofits completed on both buildings in 2020
In-unit electrical sub panels were upgraded in 2022 per Seller
Right around the corner from high-end retailers and restaurants like Equinox, Erewhon, SUGARFISH, Alfred Coffee, Roberta’s, UOVO, and more

The Deal Story

The Glaser Group is proud to announce the successful closing of 12756 and 12800 Moorpark Street—a rare 28-unit multifamily portfolio located in the heart of prime Studio City, CA.

Offered for sale for the first time in nearly 50 years, this generational asset comprised two adjacent mid-century apartment buildings totaling 28 units on over 27,000 square feet of R3-zoned land.

The Glaser Group represented a three-family partnership in this landmark transaction. Within the first week of marketing, we generated eight qualified offers and secured an all-cash buyer. The deal closed in just 14 days with zero contingencies from Day 1 of escrow.

The portfolio sold for $5,650,000 and offered significant value-add potential, with approximately 34% upside in rental income. One-bedroom units currently average $1,475/month, while two-bedrooms average $1,775/month, creating an immediate opportunity for income growth.

The 12756 Moorpark building includes 10 units and 15 covered parking spaces. The 12800 Moorpark building features 18 units, 21 covered parking spaces, on-site laundry, and a community swimming pool—an amenity rarely found in this submarket. Both buildings have undergone critical capital improvements, including soft-story seismic retrofitting (2020) and in-unit electrical subpanel upgrades (2022).

Located just steps from Erewhon, Equinox, SUGARFISH, Alfred Coffee, Roberta’s, and UOVO, this portfolio blends unbeatable location, scale, and long-term upside in one of the Valley’s most sought-after neighborhoods.

The Glaser Group expertly navigated both ends of this transaction from start to finish, securing a strong price and terms for our client in an increasingly competitive multifamily market, and a generational asset for the new Buyers.

If you’re considering a sale or purchase, we invite you to contact our team at (310) 230-5157. Let’s discuss how we can help you achieve your multifamily investment goals.