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6/05/26
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A newly constructed 44-unit multifamily community in the Sawtelle neighborhood of West Los Angeles sold for $16.65 mil ($378.4k/unit). The property was sold by the original project developer, Generation Real Estate Partners, and Eris Development.
The four-story community, located at 11418 Missouri Ave, features panoramic city views from a rooftop amenity space, solar panels, on-site laundry facilities, fitness amenities, and bicycle storage. The property represents a rare delivery of newly constructed 100% affordable housing in West Los Angeles, where development activity remains limited despite relatively strong renter demand.
Located two blocks from Sawtelle Blvd, the property sits within one of Los Angeles’ most walkable and amenity-rich neighborhoods. Often referred to as “Little Osaka,” Sawtelle is known for its strong dining and retail corridor, proximity to major Westside employment centers, and convenient access to the Expo Line, Interstate 10, and the 405 Freeway. The surrounding area continues to experience relatively strong underlying fundamentals, driven by nearby employment hubs such as Century City, Silicon Beach, UCLA, Santa Monica, and Culver City.
The acquisition reflects a continued public-sector commitment to expanding and preserving affordable housing supply in high-resource areas across Los Angeles. The transaction was executed as part of a broader City-backed affordable housing initiative, supported by public funding sources. Completed in 2025, the property was among the first developments under Executive Directive 1 (“ED1”) to break ground. The program was introduced in December 2022 to accelerate the production of 100% affordable housing.
Colliers Vice Chair Kitty Wallace and Senior Vice President Andrew Eberhard represented the sellers in the transaction.
“California remains one of the most complex development environments in the country,” said Wallace. “While those high barriers to entry have historically fostered some of the industry’s most experienced developers, they have also contributed to capital and development talent migrating to other markets in recent years. The reality is that housing affordability cannot improve without increasing housing supply, and increasing supply requires policies that make projects feasible to build.”
Speaking to the evolving policy landscape, Wallace added, “Initiatives such as SB 79, the CHIPS Act, and ongoing CEQA reforms aimed at streamlining approvals and expanding housing production reflect encouraging momentum. While opportunities are growing, developers still face challenges, including ULA transfer taxes, replacement housing requirements, and other costs that can affect the pace and scale of delivery. Continued policy improvements that reduce barriers and support responsible development will be key to attracting investment and accelerating housing production across California.”
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