Taksa Investment Group Sells Westwood Village Multifamily Properties For $7M

Two side by side properties, located at 644 & 650 Midvale Avenue in Westwood Village, have been sold as a package deal in a closed transaction. The properties, with a total of 14 units and a combined square footage of 13,226, were sold off market for a price of $7,000,000. The price per square foot comes to $529.26, and each unit was sold for an average price of $500,000. The sale was facilitated by Jonathan Taksa of Taksa Investment Group, who represented the seller.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,000,000
• Address: 644 & 650 Midvale Avenue
• Market: Westwood Village
• Square Footage: 13,226
• Price per Square Foot: $529.26
• Number of Units: 14
• Price per Unit: $500,000

The properties are situated on a large double lot in a prime student housing location, offering convenient access to UCLA. It is noteworthy that the seller carried a first mortgage on each sale. Furthermore, Taksa Investment Group has played an active role in the real estate market of Westwood Village, having successfully sold a total of 11 apartment buildings in the area over the past 18 months.