RE/MAX Commercial & Investment Realty Acquires Multifamily Property In Westwood For $7M

500 Midvale Ave, located in Westwood Village near UCLA, was recently sold in a closed transaction. The multifamily property offers a total space of 12,452 square feet. The sale price for this property was $7,000,000, resulting in a price per square foot of $562.16. This prime location makes it an ideal investment opportunity, especially considering its proximity to UCLA. The property is situated on a double lot, providing ample space for potential development or expansion. It is worth noting that this property is predominantly used for student housing, further enhancing its attractiveness to investors.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,000,000
• Square Footage: 12,452
• Price per Square Foot: $562.16
• Address: 500 Midvale Ave
• Market: Westwood

The successful sale of this Westwood Village property was facilitated by Jonathan Taksa of RE/MAX Commercial & Investment Realty, Inc. Taksa represented the buyer/seller/landlord/tenant in this transaction. With his expertise in commercial real estate, Taksa ensured a smooth and efficient deal.