11927 Kiowa St Los Angeles, CA 90049
9-Unit Apartment in Brentwood
SOLD: $4,200,000 CAP RATE: 4.06% GRM: 17.20 PRICE PER SQUARE FOOT: $458
We are pleased to announce the off market sale of 11927 Kiowa Ave a rarely traded multifamily asset located in one of Brentwood’s most desirable and tightly held residential pockets. The property features an excellent unit mix consisting of five one bedroom one bathroom units and four two bedroom two bathroom units with three units delivered vacant providing immediate lease up and repositioning flexibility for the new owner.
The asset sold for $4,200,000 which equates to $466,666 per unit and $457 per square foot along with a 17.2 GRM. The transaction was completed with an all cash offer and a 30 day close underscoring strong buyer confidence and demand for prime Brentwood multifamily.
The building has completed its earthquake seismic retrofit and all units are separately metered for gas and electricity supporting efficient operating expenses. This rare offering reflects continued investor appetite for high quality assets in core West Los Angeles locations with long term stability and strong tenant appeal.
Investment Highlights
Super prime and rarely traded Brentwood location with exceptional long term tenant demand
Sold off market for $4,200,000 with an all cash offer and 30 day close
Excellent unit mix of five 1 bedroom 1 bathroom units and four 2 bedroom 2 bathroom units
Three units delivered vacant providing immediate value add and repositioning opportunity
Earthquake seismic retrofit completed eliminating major future capital exposure
All units separately metered for gas and electric supporting efficient operating expenses
Strong sale metrics including $466,666 price per unit a 17.2 GRM and $457 price per square foot
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com