8716 & 8722 Ramsgate Ave

Property Overview

Twelve units across two side-by-side parcels on a double lot, comprehensively redeveloped in 2025 including four newly constructed units. Every major building system was replaced: roof, windows, plumbing, sewer, electrical, HVAC, lighting, and fixtures. This is a true no-capex acquisition. Unit interiors feature high-end finishes throughout with in-unit washers and dryers. The mix is eight two-bedrooms and four three-bedrooms. A 7% cap rate and sub-10 GRM on a fully rebuilt, turnkey Westside asset. That pricing profile almost never exists for product at this quality level. We have sold these buildings twice before, in 2018 and 2023. This is our third time through.

Investment Highlights

• 7% cap rate and 9.95x GRM on a fully rebuilt, turnkey asset.
• Comprehensively redeveloped in 2025. All major systems replaced.
• Four newly constructed units. Eight 2BR and four 3BR. In-unit W/D.
• New stucco, railings, stairs, drought-tolerant landscaping throughout.
• No deferred maintenance. No near-term capital exposure. Day-one income.
• West of the 405, near LMU, Playa Vista corridor, LAX, and SoFi Stadium.

Neighborhood

Quiet, tree-lined residential street in Westchester, west of the 405. Rental demand driven by LMU, the Playa Vista employment corridor (Google, YouTube, Snap), LAX, and the Inglewood entertainment district anchored by SoFi Stadium. Tenants stay.