LOS ANGELES, April 13, 2020 /PRNewswire/ — Optimus Properties, LLC purchased a 20-unit apartment building located at 3655 Westwood Blvd. this week for $6.065M. The building, built in 1966, is located in Palms, a high-growth submarket within the Greater Culver City area of Los Angeles County. The area allows current and future residents to enjoy the convenience of being located just five minutes from Downtown Culver City, a market undergoing a $2B development boom, and a train ride away to Downtown Los Angeles and Santa Monica. The property maintains a mix of 13 one-bedroom units and 7 two-bedroom townhouse units averaging approximately 750 square feet. Optimus plans a program of capital improvements to update individual residences with modern finishes, and updated interiors.
3655 Westwood Boulevard. 20 Unit apartment building located adjacent to downtown Culver City.
“The proximity to such a booming employment market, including employers Apple, Nike, and Amazon, as well as access to public transportation, is driving our thesis on the area and the Property,” said Kamyar Shabani, a Principal at Optimus. Amazon recently unveiled details regarding their $620 million Culver City Campus, which Optimus believes will be one of the many catalysts to the area.
Joseph Shabani, Principal at Optimus, said, “We are aware that many transactions in today’s turbulent market have either been cancelled or put on hold. The fact that we are proceeding with this acquisition speaks to our confidence we have in the market as well as our ability to hold up commitments as a firm.”