Description

1811 S Bentley Avenue presents an exceptional opportunity to acquire a 15-unit multifamily property in a prime West Los Angeles location, just south of Santa Monica Boulevard and moments from Sawtelle Japantown, Westwood and UCLA. The property is part of an A+ located, five-building Westside multifamily portfolio totaling 60 units, with the properties available for acquisition separately or together as a portfolio. A particularly compelling attribute of the property is that 6 of the 15 units are exempt from Los Angeles City rent control (Non-RSO) due to luxury exemptions, providing ownership with enhanced flexibility and distinguishing the asset from many competing vintage multifamily properties in West Los Angeles. Built in 1964, the attractive three-story elevator building features an exceptional and diverse unit mix of large three-bedroom, two-bedroom and one-bedroom residences averaging approximately 1,105 square feet per unit. The property includes six 3-bedroom/2-bath units, providing a concentration of larger residences that are increasingly difficult to replicate and well suited to the strong renter demographics of the surrounding Westside neighborhoods. The majority of the units have undergone interior renovations, providing an attractive existing unit base while offering continued opportunity for future income growth. The property has also benefited from meaningful capital improvements, including the replacement of 25 windows with new dual-glazed windows in 2019 and completion of the seismic soft-story retrofit in April 2020. Additional amenities include elevator service, on-site laundry providing additional income, and substantial on-site parking consisting of six single spaces and nine tandem spaces. Located just south of Santa Monica Boulevard, 1811 S. Bentley Avenue offers residents excellent walkability to Sawtelle Japantown and convenient access to Westwood, UCLA, Century City, Santa Monica and the 405 Freeway. The combination of its six Non-RSO units, oversized floor plans, renovated interiors, desirable unit mix and A+ Westside location creates a compelling opportunity for both current income and long-term appreciation. Note: The other properties comprising the five-building Westside portfolio are 1833 Westholme Avenue (16 units), 1524 Granville Avenue (10 units), 1507 Berkeley Street (7 units), and 1518 & 1524 12th Street (12 units). The properties are available for acquisition separately or together as a portfolio.