Northmarq’s Los Angeles office arranges $18.5M sale of rare, mid-rise Brentwood apartments

LOS ANGELES (Dec. 12, 2024) — Northmarq’s Los Angeles Multifamily Investment Sales team led by Mike Hanassab, Steven Goldstein and Elliot Hassan have successfully brokered the sale of 605 South Barrington Avenue, a 40-unit multifamily community, for $18.5 million ($462,500/unit). The property was built in 1953 and located in prime Brentwood, north of Montana Avenue.

Northmarq represented the seller, a longtime family owner and operator. The buyer was Wiseman Residential.

“The property was owned by the same family for over 55 years, and they were ready to exit the apartment business and transition to more passive investments,” said Hanassab. “Assets of similar size and vintage to 605 Barrington are rarely offered for purchase in the Brentwood submarket — there have only been five properties, 40 or more units, that have traded over the last ten years.”

605 South Barrington boasts a Walk Score of 83 with proximity to Brentwood Village, home to various dining, shopping, entertainment and recreational amenities. Near the 405 and 10 freeways, the 40-unit multifamily property offers residents a short commute to seven Class A office campuses in Santa Monica and Westwood as well as Silicon Beach employment centers such as Santa Monica, Playa Vista, Venice and more.

The mid-rise apartment community offers spacious one- and two-bedroom floorplans and features an expansive interior courtyard with greenspace, a pool, on-site laundry facility, gated entry and covered carport parking for each unit.