Marcus & Millichap LAAA Team Sells Multifamily Property In Westwood Village For $3.45M

400 Landfair Ave in Westwood Village has been sold in a closed transaction. This multifamily property consists of 6 units with a total square footage of 5,609. The sale price for this property was $3,450,000, resulting in a price per unit of $575,000. The price per square foot was $615. The cap rate for this property is 3.15% and the gross rent multiplier is 18.58. This transaction was an all-cash deal and the property was sold for $55,000 above the list price. It is worth noting that this property is conveniently located directly across the street from the UCLA Campus.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $3,450,000
• Units: 6
• Price per Unit: $575,000
• Square Footage: 5,609
• Price per Square Foot: $615
• Cap Rate: 3.15%
• Gross Rent Multiplier: 18.58

Filip Niculete, Glen Scher, and Aida Memary Scher from the Marcus & Millichap LAAA Team represented the sellers and buyers in this transaction. They played a vital role in facilitating the deal and ensuring a successful outcome.