The Westwood multifamily market has seen several noteworthy
apartment building transactions during 2026, ranging from smaller privately
owned properties to a $62.6 million student-housing portfolio near UCLA.
For apartment owners, the recent sales provide an interesting look at how investors are currently valuing Westwood real estate.
One of the biggest takeaways is that Westwood remains a market where location, long-term appreciation, rental upside, building quality and proximity to UCLA and Century City can be just as important as the going-in cap rate.
For apartment owners, the recent sales provide an interesting look at how investors are currently valuing Westwood real estate.
One of the biggest takeaways is that Westwood remains a market where location, long-term appreciation, rental upside, building quality and proximity to UCLA and Century City can be just as important as the going-in cap rate.
Recent Westwood Apartment Building Sales
Axiom Westwood Portfolio – $62.6 Million
One of the largest transactions of the year was the April sale of Axiom Westwood, a four-building student-housing portfolio consisting of 153 units.
The properties are located at:
The portfolio sold for approximately $62.6 million, or roughly $409,000 per unit.
Institutional Property Advisors reported that this was the largest Westwood multifamily transaction by unit count since 2020.
The properties were built between 1962 and 1967, and the previous ownership had invested significant capital into the portfolio beginning in 2015.
The transaction is particularly significant because of the properties' proximity to UCLA. Housing supply near the university remains constrained while UCLA continues to anticipate enrollment growth.
For investors, that creates a different valuation dynamic than a conventional Los Angeles apartment building. Student-housing demand and the scarcity of properties within walking distance of UCLA can create significant long-term value.
One of the largest transactions of the year was the April sale of Axiom Westwood, a four-building student-housing portfolio consisting of 153 units.
The properties are located at:
- 415 Gayley Avenue
- 411 Kelton Avenue
- 555 Kelton Avenue
- 555 Levering Avenue
The portfolio sold for approximately $62.6 million, or roughly $409,000 per unit.
Institutional Property Advisors reported that this was the largest Westwood multifamily transaction by unit count since 2020.
The properties were built between 1962 and 1967, and the previous ownership had invested significant capital into the portfolio beginning in 2015.
The transaction is particularly significant because of the properties' proximity to UCLA. Housing supply near the university remains constrained while UCLA continues to anticipate enrollment growth.
For investors, that creates a different valuation dynamic than a conventional Los Angeles apartment building. Student-housing demand and the scarcity of properties within walking distance of UCLA can create significant long-term value.
1345 S. Beverly Glen Boulevard – $8.65 Million
Another important Westwood transaction occurred in August
with the sale of 1345 S. Beverly Glen Boulevard.
The property contains predominantly large two-bedroom apartments and had reportedly been held by the same ownership for nearly three decades.
Marcus & Millichap represented the seller, Southview Investment Company, and procured the buyer, Xenon Investments.
This sale is especially useful when looking at Westwood investment values because the property represents a more traditional privately owned apartment building rather than institutional student housing.
At approximately $412,000 per unit, the transaction demonstrates continued investor willingness to place substantial capital into well-located Westwood multifamily assets.
- The 21-unit apartment building sold for approximately:
- Sale Price: $8,650,000
- Units: 21
- Price Per Unit: approximately $412,000
- Year Built: 1988
The property contains predominantly large two-bedroom apartments and had reportedly been held by the same ownership for nearly three decades.
Marcus & Millichap represented the seller, Southview Investment Company, and procured the buyer, Xenon Investments.
This sale is especially useful when looking at Westwood investment values because the property represents a more traditional privately owned apartment building rather than institutional student housing.
At approximately $412,000 per unit, the transaction demonstrates continued investor willingness to place substantial capital into well-located Westwood multifamily assets.
1630 Hilts Avenue – $5.292 Million
The 12-unit apartment building at 1630 Hilts Avenue sold in
May for approximately $5.292 million.
That equates to approximately:
$441,000 per unit
$324 per square foot
The property was originally offered at $5.35 million and sold relatively close to its asking price.
Built in 1972, the approximately 16,309-square-foot building had reportedly been held by the same family ownership for many years.
The property was marketed with strong existing income but also meaningful rental upside resulting from historically conservative rent increases.
This is an important distinction for owners trying to determine the value of an older Westwood apartment building.
A buyer isn't necessarily evaluating only today's income.
The buyer may also be evaluating the difference between existing rents and achievable future rents, the size and quality of the units, parking, location and the long-term scarcity of comparable properties.
That equates to approximately:
$441,000 per unit
$324 per square foot
The property was originally offered at $5.35 million and sold relatively close to its asking price.
Built in 1972, the approximately 16,309-square-foot building had reportedly been held by the same family ownership for many years.
The property was marketed with strong existing income but also meaningful rental upside resulting from historically conservative rent increases.
This is an important distinction for owners trying to determine the value of an older Westwood apartment building.
A buyer isn't necessarily evaluating only today's income.
The buyer may also be evaluating the difference between existing rents and achievable future rents, the size and quality of the units, parking, location and the long-term scarcity of comparable properties.
10357–10365 Ashton Avenue – $3.625 Million
Another smaller Westwood transaction involved the apartment
properties at 10357–10365 Ashton Avenue.
The combined nine-unit property sold in July for approximately:
The offering consisted of two garden-style buildings situated on two contiguous parcels.
The separate parcels, garages, storage areas and potential additional development or ADU opportunities added another layer to the investment analysis.
This transaction is a good example of why price per unit alone doesn't tell the entire story in Westwood.
Land, zoning, parcel configuration and future development potential can materially influence what an investor is willing to pay.
The combined nine-unit property sold in July for approximately:
- Sale Price: $3,625,000
- Units: 9
- Price Per Unit: approximately $403,000
- Building Area: approximately 7,274 square feet
- Price Per Square Foot: approximately $498
The offering consisted of two garden-style buildings situated on two contiguous parcels.
The separate parcels, garages, storage areas and potential additional development or ADU opportunities added another layer to the investment analysis.
This transaction is a good example of why price per unit alone doesn't tell the entire story in Westwood.
Land, zoning, parcel configuration and future development potential can materially influence what an investor is willing to pay.
11089 Strathmore Drive – $3.25 Million
The multifamily property at 11089 Strathmore Drive sold in
March for approximately $3.25 million.
The property contains approximately 7,130 square feet and sold for approximately $456 per square foot.
It had been offered at approximately $3.3 million before closing at $3.25 million.
Properties in the UCLA/Westwood North Village area can trade differently from apartment buildings farther south because student housing demand and proximity to campus can become major components of the investment decision.
The property contains approximately 7,130 square feet and sold for approximately $456 per square foot.
It had been offered at approximately $3.3 million before closing at $3.25 million.
Properties in the UCLA/Westwood North Village area can trade differently from apartment buildings farther south because student housing demand and proximity to campus can become major components of the investment decision.
1775 Beloit Avenue – $8.5 Million
A different type of Westwood-area transaction occurred at
1775 Beloit Avenue, where a newer co-living multifamily property sold for
approximately $8.5 million.
The seven-story property was constructed in 2023 and contains 16 residential units configured for approximately 48 beds.
The transaction equated to approximately:
$531,250 per unit
$472 per square foot
UCLA Housing Group acquired the property from Enterprise Bank through a court-appointed receivership transaction. Colliers represented both sides.
Because of the property's age, co-living configuration and intended student-housing use, this transaction shouldn't necessarily be compared directly with a conventional 1960s or 1970s Westwood apartment building.
However, it demonstrates the value investors continue to place on housing capacity near UCLA.
The seven-story property was constructed in 2023 and contains 16 residential units configured for approximately 48 beds.
The transaction equated to approximately:
$531,250 per unit
$472 per square foot
UCLA Housing Group acquired the property from Enterprise Bank through a court-appointed receivership transaction. Colliers represented both sides.
Because of the property's age, co-living configuration and intended student-housing use, this transaction shouldn't necessarily be compared directly with a conventional 1960s or 1970s Westwood apartment building.
However, it demonstrates the value investors continue to place on housing capacity near UCLA.
What Are Westwood Apartment Buildings Worth in 2026?
Looking at these transactions together illustrates something
important about the Westwood apartment market:
There isn't one number that defines Westwood multifamily value.
Recent transactions have occurred around the $400,000-per-unit range, with certain properties moving substantially higher depending upon age, location, unit size, rent profile and property characteristics.
But price per unit is only one valuation measurement.
When evaluating a Westwood apartment building, I look at several factors together:
Net Operating Income and Cap Rate
Income still matters. Investors need to understand the property's current NOI and what return that income represents relative to the purchase price.
Price Per Unit
Price per door is particularly useful when comparing properties with similar unit mixes, locations and physical characteristics.
Price Per Square Foot
This becomes increasingly important when comparing buildings with dramatically different apartment sizes.
Gross Rent Multiplier
GRM provides another useful measurement of how aggressively a buyer is paying relative to existing rental income.
Existing Rents Versus Market Rents
A building with long-term tenants and below-market rents may have significant embedded upside, although an investor must carefully evaluate how and when that upside can realistically be captured.
Year Built
A 1988 property can have a very different regulatory and investment profile from an apartment building constructed in 1960.
Location Within Westwood
Being within walking distance of UCLA can create a different investor pool than a property located closer to Century City or Beverly Hills.
Land and Development Potential
Lot size, zoning, parking, ADU possibilities and redevelopment potential can all influence value beyond the property's current income.
There isn't one number that defines Westwood multifamily value.
Recent transactions have occurred around the $400,000-per-unit range, with certain properties moving substantially higher depending upon age, location, unit size, rent profile and property characteristics.
But price per unit is only one valuation measurement.
When evaluating a Westwood apartment building, I look at several factors together:
Net Operating Income and Cap Rate
Income still matters. Investors need to understand the property's current NOI and what return that income represents relative to the purchase price.
Price Per Unit
Price per door is particularly useful when comparing properties with similar unit mixes, locations and physical characteristics.
Price Per Square Foot
This becomes increasingly important when comparing buildings with dramatically different apartment sizes.
Gross Rent Multiplier
GRM provides another useful measurement of how aggressively a buyer is paying relative to existing rental income.
Existing Rents Versus Market Rents
A building with long-term tenants and below-market rents may have significant embedded upside, although an investor must carefully evaluate how and when that upside can realistically be captured.
Year Built
A 1988 property can have a very different regulatory and investment profile from an apartment building constructed in 1960.
Location Within Westwood
Being within walking distance of UCLA can create a different investor pool than a property located closer to Century City or Beverly Hills.
Land and Development Potential
Lot size, zoning, parking, ADU possibilities and redevelopment potential can all influence value beyond the property's current income.
Westwood Remains a Supply-Constrained Multifamily Market
Westwood is unusual because there are several major demand
generators concentrated within a relatively small geographic area.
UCLA provides a large and relatively consistent population of students, faculty, medical professionals and employees.
Immediately to the south, Century City provides another major employment center.
Beverly Hills, Brentwood and Santa Monica are also nearby.
At the same time, developing significant amounts of new apartment inventory in Westwood is difficult and expensive.
That combination helps explain why buyers may accept lower initial yields for certain Westwood properties compared with apartment buildings in less supply-constrained Los Angeles submarkets.
UCLA provides a large and relatively consistent population of students, faculty, medical professionals and employees.
Immediately to the south, Century City provides another major employment center.
Beverly Hills, Brentwood and Santa Monica are also nearby.
At the same time, developing significant amounts of new apartment inventory in Westwood is difficult and expensive.
That combination helps explain why buyers may accept lower initial yields for certain Westwood properties compared with apartment buildings in less supply-constrained Los Angeles submarkets.
Cap Rate Doesn't Tell the Entire Story in Westwood
This is also why I believe Westwood owners should be careful
about valuing their property based solely on a cap rate.
Cap rate is important, but it doesn't necessarily capture the complete value of a Westwood asset.
A buyer may be willing to pay a premium because of large units, below-market rents, student-housing potential, a favorable year built, exceptional land, redevelopment possibilities or simply the difficulty of acquiring another comparable property in the neighborhood.
Conversely, a prestigious Westwood address by itself doesn't justify any asking price.
Sophisticated buyers are still evaluating financing costs, operating expenses, regulatory risk, future capital requirements and the return they can realistically achieve on their investment.
The market ultimately determines where those considerations meet.
Cap rate is important, but it doesn't necessarily capture the complete value of a Westwood asset.
A buyer may be willing to pay a premium because of large units, below-market rents, student-housing potential, a favorable year built, exceptional land, redevelopment possibilities or simply the difficulty of acquiring another comparable property in the neighborhood.
Conversely, a prestigious Westwood address by itself doesn't justify any asking price.
Sophisticated buyers are still evaluating financing costs, operating expenses, regulatory risk, future capital requirements and the return they can realistically achieve on their investment.
The market ultimately determines where those considerations meet.
Considering Selling a Westwood Apartment Building?
For owners considering a sale, the first question doesn't
necessarily have to be whether to formally list the property.
It can simply be:
What would the property realistically sell for in today's market?
A valuation should examine recent comparable sales together with the property's current income, expenses, rents, unit mix, year built, condition and future upside.
That analysis can also help an owner determine whether holding, refinancing, repositioning or selling makes the most sense.
KN Commercial focuses on multifamily investment properties throughout Westwood and the greater West Los Angeles market, with an emphasis on providing owners with a realistic understanding of value and potential disposition strategies.
If you own an apartment building in Westwood and would like to discuss its current market value or explore a potential off-market sale, contact KN Commercial for a confidential property evaluation.
It can simply be:
What would the property realistically sell for in today's market?
A valuation should examine recent comparable sales together with the property's current income, expenses, rents, unit mix, year built, condition and future upside.
That analysis can also help an owner determine whether holding, refinancing, repositioning or selling makes the most sense.
KN Commercial focuses on multifamily investment properties throughout Westwood and the greater West Los Angeles market, with an emphasis on providing owners with a realistic understanding of value and potential disposition strategies.
If you own an apartment building in Westwood and would like to discuss its current market value or explore a potential off-market sale, contact KN Commercial for a confidential property evaluation.