90024 Multifamily Property Values

Sold date April 2025 to April 2026 MLS

Duplex, Triplex, Fourplex & Apartment Building Sales (Westwood / Century City)

90024 Duplex Sales (2 Units)

1728–1726 Midvale Ave – Sold $1,650,000 | 1,885 SF | 6,633 Lot

10773 Ashton Ave – Sold $2,275,000 | 3,656 SF | 6,009 Lot

10527 Ashton Ave – Sold $2,370,000 | 4,306 SF | 6,379 Lot | Vacant Unit Delivered | LAR3 Zoning (Development Upside)

Duplex Summary (90024)

Price Range: ~$1.65M → $2.37M
Price Per SF: ~$550 → $875

What this shows:

• Strong pricing driven by location (Westwood / Century City proximity)

• Many deals include:

  • vacancy

  • development potential (LAR3 zoning)

• Buyers are not just buying income, they are buying future upside and land value

90024 Triplex Sales (3 Units)

10354 Ashton Ave – Sold $1,985,000 | 3,195 SF | 4,785 Lot | Cap Rate 4.20% | GOI $83,808 | NOI ~$44,026 | GRM 16.00

Triplex Summary

Cap Rate: ~4.2%
GRM: ~16

What this shows:

• Transition point from owner-user → investor

• Still influenced by:

  • location near UCLA

  • tenant stability

• Moderate income performance, but still priced with upside in mind

90024 Fourplex Sales (4 Units)

10767 Massachusetts Ave – Sold $1,800,000 | 3,422 SF | 6,581 Lot | GOI $113,925 | NOI $74,051 | GRM 17.56

10366 Ashton Ave – Sold $1,995,000 | 3,005 SF | 4,785 Lot | ADU Potential (Garage Conversion)

10440 Eastborne Ave – Sold $2,100,000 | 3,945 SF | 7,152 Lot | GOI $101,877 | NOI $48,707 | GRM 20.61 | Redevelopment Potential

10620 Holman Ave – Sold $2,250,000 | 3,700 SF | 6,507 Lot | Cap Rate 4.17% | GRM 16.14 | Vacancies + ADU Potential

10721 Ashton Ave – Sold $2,077,000 | 4,016 SF | 6,000 Lot | Cap Rate 3.77% | GOI $132,684 | NOI $86,599 | GRM 16.81

1541 Veteran Ave – Sold $2,730,000 | 4,932 SF | 8,502 Lot | GOI $150,156 | NOI $94,097 | GRM 18.09 | Owner-User + ADU Upside

442 Kelton Ave – Sold $4,550,000 | 6,190 SF | 8,334 Lot

Fourplex Summary

Price Range: ~$1.8M → $4.55M
Cap Rate Range: ~3.8% → 5.3%
GRM Range: ~10 → 16+

What this shows:

• Strong demand driven by:

  • proximity to UCLA / Century City

  • limited inventory

• Many deals include:

  • vacancies

  • ADU potential

  • redevelopment angles

• Higher GRMs reflect future rent growth expectations

90024 Five Unit Sales (5 Units)

414 Landfair Ave #5 – Sold $1,850,000 | 6,628 SF | 7,914 Lot

1301 S Beverly Glen Blvd – Sold $2,793,600 | 6,789 SF | 7,122 Lot | Cap Rate 4.08% | GOI $192,595 | GRM 15.01

Five Unit Summary

Cap Rate: ~4.5% → 6.5%
GRM: ~10 → 16

What this shows:

• Fully investor-driven pricing

• Strong income focus, but still influenced by:

  • Westside location premium

• Balanced between cash flow and appreciation

90024 Six Unit Sales (6 Units)

1259 Devon Ave – Sold $2,097,200 | 3,151 SF | 5,402 Lot

1301 Devon Ave – Sold $2,615,000 | 4,786 SF | 5,777 Lot | Cap Rate 6.70% | GOI $168,008 | GRM 16.00

1360 S Beverly Glen Blvd – Sold $5,035,000 | 8,874 SF | 6,265 Lot | GOI $328,548 | GRM 15.80

Six Unit Summary

Cap Rate Range: ~5.0% → 6.7%
GRM Range: ~15 → 16

What this shows:

• Clear shift into income-driven market

• Larger assets begin to:

  • trade based on NOI and yield

• Cap rates expand compared to 4-units

90024 Seven Unit Sales (7 Units) 90024

1357–1361 S Beverly Glen Blvd – Sold $3,175,000 | 9,102 SF | 8,053 Lot | GOI $256,211 | GRM 12.98

Seven Units 90024 Cap and GRM

~5%–6.5% GRM: 10 ~16

What this shows:

• Strong compression in GRM

• Buyers now focused on:

  • efficiency

  • scale

90024 Eight Unit Sales (8 Units)

1585 Manning Ave – Sold $3,300,000 | 10,143 SF | 5,853 Lot

11089 Strathmore Dr – Sold $3,250,000 | 7,130 SF | 6,913 Lot | Cap Rate 4.09% | GOI $213,499 | GRM 14.68

630 Midvale Ave – Sold $4,150,000 | 7,224 SF | 8,008 Lot | GOI $306,690 | GRM 13.00

Eight Unit Summary

Cap Rate: ~5%–6.5%
GRM: ~13 → 14.7

What this shows:

• Institutional-type buyers entering

• Stable income + long-term hold strategy

90024 10+ Unit Sales

1629 Veteran Ave – Sold $6,300,000 | 14,196 SF | 7,923 Lot

406 Veteran Ave – Sold $7,625,000 | 15 Units | Cap Rate 3.80% | GOI $489,414 | GRM 16.41

10+ Unit Summary

Cap Rate Range: ~4%–5.5%
GRM Range: ~14 → 16+

What this shows:

• Trophy / core Westside pricing

• Lower cap rates due to:

  • location premium

  • long-term appreciation expectations

• Larger deals attract:

  • experienced / institutional buyers

What the 90024 Multifamily Market Is Telling You

Across all unit types:

• Location (Westwood / Century City / UCLA) is the dominant driver

• Many properties are trading based on:

  • vacancy

  • ADU potential

  • redevelopment (LAR3 zoning)

Smaller properties (2–4 units):

• Strong price per SF

• High GRMs

• Buyer = hybrid (owner-user + investor)

Mid-size (5–8 units):

• More consistent underwriting

• Balanced income + upside

Larger properties (10+ units):

• Lower cap rates

• Strong long-term hold strategy

• Institutional-level thinking

Key Insight

90024 is not a yield market.

It is a location-driven appreciation and redevelopment market where:

• Buyers accept lower cap rates

• They pay for:

  • land

  • future density

  • proximity to UCLA / Century City

Why Buy Multifamily in Westwood (90024 Los Angeles)

Westwood is one of the most stable multifamily markets on the Westside, driven by consistent rental demand, limited supply, and long-term appreciation.

Buyers are attracted to Westwood because of its direct connection to UCLA, which creates a recurring tenant base of students, faculty, and medical professionals. This cycle supports strong occupancy and reliable turnover.

The location also benefits from proximity to Century City, Beverly Hills, and major employment hubs, making it highly desirable for renters beyond just the student population.

Transportation and infrastructure continue to improve accessibility. The planned Metro D Line (Purple Line Extension) connecting the Westside to Downtown Los Angeles enhances long-term value by improving commute options and increasing demand near transit corridors.

From an investment standpoint, multifamily properties in Westwood offer:

Strong and consistent rental demand
High liquidity and buyer competition
Long-term appreciation in a supply-constrained area
Value-add opportunities through unit upgrades and repositioning
Expansion potential through ADUs, redevelopment, or favorable zoning

While cap rates in Westwood tend to be lower compared to other Los Angeles submarkets, buyers are often prioritizing stability, location, and long-term upside over immediate yield.

Why Sell Your Westwood Multifamily Property

Westwood property owners are in a position where demand remains strong and pricing is supported by both investors and long-term holders looking for Westside assets.

Selling may make sense when a property has reached its value ceiling or when the cost of maintaining and operating the building begins to outweigh the benefits.

Common reasons owners in 90024 choose to sell include:

Rising operating costs, including insurance and maintenance
Deferred repairs or capital improvements that require significant investment
Tenant turnover challenges or management fatigue
Desire to unlock equity and reposition into stronger or lower-maintenance assets

Westwood’s high demand and limited inventory create opportunities for sellers to capture strong pricing, especially when properties are positioned correctly with respect to income, upside potential, and location advantages.

Properties with vacancy, rental upside, or redevelopment potential often attract the most attention, particularly from investors looking to leverage long-term appreciation and expansion opportunities.

Selling Your Multifamily Property in Westwood (90024 Los Angeles)

Selling a duplex, triplex, fourplex, or apartment building in Westwood is not the same as selling a single-family home.

This is an income-producing asset, and buyers are evaluating it based on cap rate, GRM, rental upside, tenant profile, and long-term potential — not just comparable sales.

What Value We Bring

I position your property the way investors actually buy:

I analyze your rent roll and compare it to true market rents
I break down your property using cap rate and GRM — the same metrics buyers use
I identify value-add opportunities such as ADUs, vacancy, or redevelopment
I highlight location advantages tied to UCLA, Century City, and transit expansion

This ensures your property is not just listed — it is strategically positioned to attract the right buyers and maximize value.

How I Solve the Biggest Seller Problems

Most multifamily properties in Westwood sit or underperform for one reason:

They are priced or marketed incorrectly.

I solve that by:

Positioning your property based on real investor demand
Presenting clear financials that reduce buyer uncertainty
Targeting qualified multifamily buyers, not just general interest
Managing tenant communication and showing strategy to protect the deal

The goal is simple: create clarity, reduce friction, and drive stronger offers.