2 SoCal Communities Trade for $46M
A family office previously owned the assets.
Two multifamily properties in Brentwood, Calif., a submarket of Los Angeles, have sold for a combined $46.4 million. The assets, located at 11911 Mayfield Ave. and 11860 Kiowa Ave. total 61 units.
Marcus & Millichap arranged the sale and represented the seller, listed as May Ling Yu by Traded. The buyer was identified as a family-run office, according to the brokers.
The four-story communities were completed in 2006 and 2007, respectively. The Mayfield Avenue property includes 31 units and a nonconforming studio, while the Kiowa Avenue asset comprises 29 units. Floorplans span up to three-bedrooms, with the buildings including private balconies. The Mayfield property features in-unit laundry and covered parking.
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This transaction represents two of just five multifamily deals completed in the neighborhood this year.
“Demand in Brentwood has been exceptionally strong, particularly for large, well-located units, while supply remains limited,” Rabbie Banafsheha, senior director of investments at the Azzi Group, told Multi-Housing News.
Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Millichap represented the seller in the transaction. The firm previously marketed the two assets for $52 million.
The properties are located less than a quarter of a mile from each other. Santa Monica Boulevard is close by, with a connection to Interstate 405. Also in the area are Jackie Robinson Stadium and the Brentwood Country Club. Downtown LA is 15 miles away.
Occupancy high amid slowing construction
Overall occupancy in Los Angeles remains high at 95.9 percent, according to Yardi Matrix. At the same time, development activity has slowed, with 25,754 apartments under construction and 6,836 units breaking ground as of year-end 2025, leaving supply particularly tight in submarkets including Brentwood.
In other recent activity in the area, TruAmerica Multifamily picked up two multifamily assets totaling 157 units from WS Communities and Gortikov Capital. The purchase included Luxe Villas in Brentwood and Haven Apartments in Culver City, Calif.
Last month, Decron Properties refinanced River Ranch Apartments in Simi Valley, Calif. The owner received a five-year fixed-rate loan from Fannie Mae totaling $82.9 million.
