Highlights
•7.00% cap rate on current income •9.95x GRM in a prime Westchester location •12 units on a rare double lot •Two side-by-side parcels under single ownership •Fully redeveloped in 2025 •Four newly built units added •All major systems upgraded or replaced •No near-term capital expenditure required •In-unit washers and dryers throughout •Unit mix: 8 two-bedroom, 4 three-bedroom •Quiet residential setting near LMU, Playa Vista, and LAX
Description
8716 and 8722 Ramsgate Avenue present a rare multifamily investment opportunity on the Westside of Los Angeles, offering a true 7.00% cap rate and a sub-10 GRM (9.95x) based on current in-place income—an uncommon combination for a fully rebuilt, turnkey asset in Westchester. The property features 12 units across two adjacent parcels on a double lot and underwent a comprehensive redevelopment in 2025, including the addition of four newly constructed units. Improvements were extensive and property-wide, with major systems such as the roof, windows, plumbing, sewer, electrical, HVAC, lighting, and fixtures all replaced or upgraded. This creates a true no-capex investment with no deferred maintenance or near-term capital requirements. Exterior upgrades include new stucco and paint, updated railings and stair systems, refreshed building facades, and professionally designed drought-tolerant landscaping with paver hardscaping throughout the common areas. The property is located on a quiet, tree-lined residential street in Westchester, enhancing long-term tenant appeal. Unit interiors are finished with high-quality materials and include in-unit washers and dryers. The property offers a strong unit mix of eight two-bedroom units and four three-bedroom units, delivering stable, efficient operations and immediate income backed by substantial renovations rather than superficial upgrades. Situated west of the 405 Freeway near Manchester Avenue, the location benefits from consistent rental demand due to its proximity to Loyola Marymount University, Playa Vista’s employment hub, and Los Angeles International Airport. It is also just minutes from Playa del Rey and the Inglewood entertainment district, home to SoFi Stadium, supporting a broad and reliable renter base. In a market where comparable renovated Westside assets typically trade at lower yields, this offering stands out by providing strong day-one returns without renovation risk, lease-up uncertainty, or speculative underwriting. Its combination of attractive pricing, high-quality redevelopment, and a supply-constrained location makes it a uniquely compelling opportunity.
Listing Details
- Cap Rate
7%
- Space Type
multifamily
- Sub Category
apartments-building
- Date Listed
3/30/2026
- Ownership Info
Fee Simple
- Broker/Agent Co-op
Yes
- Investment Type
Stabilized
- Net Operating Income
$388,214
Property Specifics
- Property Name
12 Units in Westchester | 7.00% CAP RATE
- No of Buildings
4
- No of Stories
2
- No of Units
12
- Year Built
1951
- Building Size
10,500 SF
- Lot Size
13,600 SF
- Year Renovated
2025
- APN
4125-015-017, 4125-015-018
- Zoning
LAR3
- Occupancy
92%