Description

We are pleased to present The Colonnade, at 1833 Westholme Avenue, presents a rare opportunity to acquire a pride-of-ownership 16-unit multifamily property in an ultra-prime Century City-adjacent location. Built in 1965, this three-story elevator building is part of an A+ located, five-building portfolio totaling 60 units, available for acquisition individually or together as a portfolio. The Colonnade is distinguished by exceptionally spacious floor plans, averaging approximately 1,293 square feet per unit, with a unit mix heavily concentrated in large two-bedroom and three-bedroom residences, including six 2-bedroom / 2-bathroom units with additional den space. Units feature expansive living areas, large kitchens, walk-in closets and abundant natural light, offering space and functionality that is difficult to replicate in newer construction. One unit plus an approximately 500 SF office space will be delivered vacant at close of escrow, and select residences have already been renovated, giving new ownership an immediate path to push rents to market. Ownership has completed significant capital improvements, including the seismic soft-story retrofit in December 2019. The property offers residents a secure-entry environment, elevator service, lushly landscaped grounds and substantial gated on-site parking with eight single spaces and nine tandem spaces. On-site laundry provides ancillary income, and a former pool house was converted into an office/storage room in 2017.Situated in an irreplaceable Westside location, The Colonnade offers exceptional proximity to Century City, Beverly Hills, Westwood, UCLA, UCLA Medical Center, Westfield Century City and Rancho Park Golf Course, supporting strong and consistent rental demand. Note: The other properties comprising the five-building Westside portfolio are 1811 S. Bentley Avenue (15 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.