Maher Commercial Realty today announced the successful sale of 3736 Westwood Blvd, a 7-unit apartment building located in the highly desirable Palms / Culver City adjacent submarket of Los Angeles. The property sold for $1,825,000. Arian Zerehi of Maher Commercial Realty represented the Buyer in the transaction.
The property, situated near Downtown Culver City, sits on a 7,877-square-foot lot and comprises 6,336 square feet of building area. The building’s unit mix includes a bachelor unit, a one-bedroom, a two-bedroom, three two-bedroom townhouse-style units, and a three-bedroom, two-bath unit.
The transaction offered the Buyer significant upside potential, with several units historically rented below market rate and 5 of the property’s 7 units delivered vacant at close of escrow, providing an opportunity to reposition the asset and capture market rents.
“This property represented an excellent value-add opportunity in one of the Westside’s most sought-after rental submarkets,” said Arian Zerehi of Maher Commercial Realty. “With the majority of units delivered vacant, the Buyer is well-positioned to renovate and lease at current market rates, driving strong returns going forward.”
The Palms / Culver City adjacent submarket continues to attract investor interest due to its proximity to Culver City’s growing employment, entertainment, and retail corridors, as well as its convenient access to the broader Westside of Los Angeles.
About Maher Commercial Realty
Maher Commercial Realty is a Los Angeles-based commercial real estate brokerage specializing in multifamily and commercial property sales throughout Southern California.
