37
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$5,545,000
Est. payment /mo
28 Beds
16 Baths
10,500 SqFt
New
8716 Ramsgate AVE Los Angeles, CA 90045
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,500 sqft
Price per Sqft $528
MLS Listing ID 26639463
Bedrooms 28
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1951
Lot Size 0.312 Acres
Property Description
8716 and 8722 Ramsgate Avenue offer a rare Westside Los Angeles multifamily opportunity delivering a true 7.00% cap rate and sub-10 GRM (9.95x) on current in-place income - an exceptionally uncommon pricing profile for a fully rebuilt, turnkey asset in Westchester. The property consists of 12 units across two side-by-side parcels on a double lot, comprehensively redeveloped in 2025, including four newly constructed units. The scope of work was extensive and property-wide, with all major building systems replaced or upgraded, including roof, windows, plumbing, sewer, electrical, HVAC, lighting, and fixtures. The result is a true no-capex acquisition with no deferred maintenance and no near-term capital exposure. The exterior was fully redeveloped as part of the 2025 improvements, featuring new stucco and paint, updated railings and stair systems, modernized building elevations, and professionally designed drought-tolerant landscaping with paver hardscaping throughout the common areas. The property is situated on a quiet, residential, tree-lined Westchester street, reinforcing long-term tenant appeal and pride of ownership. Unit interiors feature high-end finishes throughout, in-unit washers and dryers, and a highly desirable unit mix of eight two-bedroom units and four three-bedroom units. The execution and layout deliver durable, operationally simple, and immediately stabilized income supported by substantive improvements rather than cosmetic upgrades. Located west of the 405, just off Manchester, the property benefits from sustained rental demand driven by proximity to Loyola Marymount University, the Playa Vista employment corridor, and Los Angeles International Airport. The site is also minutes from Playa del Rey and the Inglewood entertainment district anchored by SoFi Stadium, reinforcing deep and diverse renter demand. In a Westside market where renovated assets of similar quality typically trade at materially lower yields, this offering stands apart by delivering meaningful day-one income without renovation risk, lease-up exposure, or speculative assumptions. The combination of exceptional pricing metrics, high-quality redevelopment, and a supply-constrained Westside location makes opportunities like this inherently scarce in today's buyer-driven environment.
Location
State CA
County Los Angeles
Area C29 - Westchester
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 4125015018
Special Listing Condition Standard
Listed by Don Favia Realty Investment Advisors, Inc.
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