Executive Summary

The Neema Group of Marcus & Millichap and Mission Capital are pleased to present an REO sale of 1421 & 1427 Barry Ave, a co-living investment opportunity in prime West LA located between Wilshire Blvd & Santa Monica Blvd

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Consisting of two adjacent buildings totaling 18 units and 56 beds, the property was converted from traditional multifamily units to co-living suites in 2022 and fully renovated with a private refrigerator and freezer, Samsung Smart TV’s, European-style cabinetry, vinyl plank flooring, en-suite bathrooms, recessed lighting, individual A/C and heat controls, stainless steel appliances, smart locks, shared in-unit washers and dryers, and many units have private balconies; all units are fully furnished

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The subject properties have been occupied by Kaplan International, a foreign student exchange program and subsidiary of the Graham Holdings Company, on a master lease; Kaplan currently occupies 79% of the bed spaces and is the process of reducing their occupancy to 52% and extending their lease 1-2 years; opportunity for a buyer to acquire and rent the remaining 48% of the beds at market rates; Kaplan will be paying $68,176 per month upon the lease amendment, approximately $2,350-$2,363 per bed space

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The subject properties are located less than three miles from UCLA, and minutes from employment hubs such as Brentwood, Century City, Beverly Hills, Santa Monica, and Culver City, and walking distance to the West LA VA Medical Center

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The current Borrower has been collaborative, and the loan converted to REO via a deed-in-lieu on 10/3/2025

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Please contact the agents for additional details on pricing and offer guidelines