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M&A Acquires Student Housing In Westwood Village For $6.85M

Property Image
SOLD
$6,850,000
Oron Maher

California

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Other5,771 SF
Sold 09/24/2021
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Property Image
SOLD

M&A Acquires Student Housing In Westwood Village For $6.85M

535 Glenrock Avenue, Los Angeles, CA, USA

See Similar Deals
Other5,771 SF
Sold 09/24/2021
Oron Maher
Contact now

Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$1,187
Total Square Footage:5,771 SF
Transaction Type:Sale

The property involved in this transaction is located at 535 Glenrock Ave in Westwood Village. It is a student housing asset consisting of four units and a total of 26 bedrooms. The property is conveniently situated within walking distance to UCLA, making it an ideal choice for student housing. The sale of this property was conducted off-market.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $6,850,000
  • Address: 535 Glenrock Ave
  • Market: Westwood Village
  • Buyer: M&A - Adam Stein
  • Buyer's Representative: David Kaplan
  • Seller's Representative: Oron Maher - Maher Commercial Realty
  • Square Footage: 5,771 SF
  • Price Per Square Foot: $1,186

Adam Stein, representing M&A, acted as the buyer in this transaction. The buyer's representative was David Kaplan. On the other side, Oron Maher, from Maher Commercial Realty, served as the seller's representative. This deal demonstrates the demand for student housing in the area and highlights the involvement of key individuals and companies in the real estate market.

Players

Oron Maher
31 deals$159.1M volume(415) 378-5464
BROKER

David Kaplan
1 deal$6.9M volume
BROKER

Details

SOLD
IMAGE: Oron Maher DATE: 09/24/2021 ADDRESS: 535 Glenrock Ave. MARKET: Westwood Village ASSET TYPE: Student Housing BUYER: M&A - Adam Stein BUYER’S REP: David Kaplan SELLER’S REP: Oron Maher (@MaherCommercial) - Maher Commercial Realty SALE PRICE: $6,850,000 SF: 5,771 ~ PPSF: $1,186 Notes: This is a four unit property being operated as a 26 bedroom student housing project, walking distance to UCLA.  This was an off-market sale.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

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