7018 Glasgow Ave, Los Angeles

We were pleased to represent the buyer in a 1031 exchange purchasing 7018 Glasgow Avenue in Westchester.  This property is in a rapidly improving area with over 30% upside in rents.  Current rents reflect a 4.1 cap rate with upside to well over a 5 cap.  The buyers liked these units for the strong rental history and the improving neighborhood.  This pocket of Westchester is unique in that it is convenient to LAX, the 405 Freeway, and the new NFL complex being constructed in Inglewood.  Unlike other parts of Westchester, the sales price to income presented an opportunity to buy in an improving neighborhood while still generating strong cash flows.