Drew Fenton | Brentwood Properties

818 S Gretna Green Way | Drew Fenton

A generational opportunity to acquire a luxury 27-unit asset in an irreplaceable 'A+' location. Due to a Luxury Housing Exemption about 50% of the units are non-RSO. Ownership has meticulously maintained the property, updating and adding in-unit washer and dryers. Generously-sized apartments average nearly 1600 square feet and feature large balconies, central heat/air and secure perimeter entry and parking. Current rents average $2.82 per square foot leaving significant update of approximately 33% on the table for a buyer to realize. The property is separately metered for gas and electricity and a buyer would be wise to implement RUBS billing on landlord-paid utilities moving forward. Due to a Luxury Housing accommodation related to significant capital improvements,13 units-or about half of the total-are exempt from Los Angeles City Rent Control. Subject only to California State AB1482, these units offer ownership greater control over tenancy and the ability to increase rents annually at nearly 9%. 818 Gretna Green Way is situated in a prime area of Brentwood, adjacent to the renowned Brentwood Country Club and 100 feet away from the Sunday Brentwood Farmers Market. Brentwood enjoys a long-standing reputation as one of Los Angeles' most affluent and desirable residential areas. This area has evolved into an elegant and understated neighborhood known for its spacious homes, tree-lined streets, and well maintained parks. It has attracted a discerning population, including many celebrities and professionals seeking a tranquil yet conveniently located environment. Institutions like the Brentwood Country Club and the proximity to cultural landmarks such as the Getty Center further enhance its prestige. While it has experienced moments of notoriety, the overall reputation of Brentwood remains one of quiet affluence, offering a high quality of life with a strong sense of community.

Listing provided courtesy of Adam Peterson

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