Michael Saei Acquires Multifamily Property On Glenrock Avenue For $11M

541-545 Glenrock Avenue, a generational student housing building in the supply constrained North Westwood Village submarket, has been sold for $11,000,000. The property, located in Los Angeles, consists of ten large units totaling 27 total bedrooms. It is situated in close proximity to the UCLA campus, making it an attractive option for students. The sale price equates to $1,100,000 per unit and the building spans across 16,000 square feet, resulting in a price per square foot of $688.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $11,000,000
• Buyer: Michael Saei
• Seller: Heewon Kwon
• Brokers: Oron Maher - Maher Commercial Realty

Maher Commercial Realty represented both the buyer and seller in this transaction. The sale of 541-545 Glenrock Avenue marks a significant deal in the student housing market, given its strategic location and well-maintained units. The property, rebuilt in 1996, meets the demands of students seeking convenient housing near the UCLA campus.