The building was developed after Los Angeles’ Rent Stabilization Ordinance cutoff date and is exempt from both the city’s rent-control rules and California’s statewide rent cap law.
A recently built apartment property in Mar Vista has been listed for sale for $8.2 million, adding another high-value multifamily asset to the Westside real estate market.
The property, known as The Caswell, is located at 12770 Caswell Ave. and consists of 11 residential units across a four-story building completed in 2017.
According to the listing, the building contains four one-bedroom units, six two-bedroom units and one affordable housing unit. The property totals approximately 12,460 square feet of rentable space on a 7,114-square-foot lot.
The asking price equates to about $658 per square foot.
The building was developed after Los Angeles’ Rent Stabilization Ordinance cutoff date and is exempt from both the city’s rent-control rules and California’s statewide rent cap law, factors that can make newer multifamily properties attractive to investors.
Amenities include a shared rooftop deck, private balconies in select units, elevator access and on-site parking. Three of the units occupy penthouse-level space, with two featuring private rooftop terraces.
The property is being marketed by Compass agents John Swartz and Jacqueline Carroll.
