Berkadia Negotiates the Sale of Two Multifamily Properties in Los Angeles, California
Los Angeles (Westwood), California –September 24, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of 406 Veteran Avenue, a 15-unit, three story multifamily property located steps away from UCLA in the Westwood submarket of Los Angeles, California. Senior Managing Director Adrienne Barr of Berkadia Los Angeles led the transaction on behalf of the seller, the Los Angeles-based original developer of the property. It was the first time the property was on the market since it was built in 1963. The deal closed on September 12.
“Investors were attracted to the prime Westwood location, just one building away from UCLA’s campus and walking distance to the shopping, dining, and entertainment of Westwood Village,” said Barr. “406 Veteran is a beautifully maintained, high-quality 15-unit apartment building with fantastic curb appeal. The three-story elevator building boasts semi-subterranean parking, trash chutes, two large storage closets, and a common laundry room. The property affords residents convenient access to UCLA, Westwood Village, Century City and is approximately one mile from the future Westwood/UCLA Metro Station. We received multiple offers.”
In the same week, Barr represented a local investor in the acquisition of 3651 McLaughlin Avenue, a 10-unit apartment building in Mar Vista. The property was listed by Nathan Shaolian at Kidder Mathews and sold for $3.26 million at a 5.0% cap rate on the current rent roll. The sales price reflects a per unit price of $326,000 or $440 per square foot. The deal closed on September 9.
Apartment Property in L.A.’s Mar Vista Area Sells for $326k Per Unit | RenTV