LOS ANGELES, CA - MWest Holdings, a Los Angeles-based real estate firm with over 2 million square feet of residential and commercial property across the U.S., announced the sale of The Enclave Apartments, a 306-unit, seven-building multifamily property located at 13801 Paramount Blvd in Paramount, CA for $128.5 million.
Acquired in 2019 for $99.3 million, MWest implemented its extensive knowledge in transforming multifamily properties by completing dramatic, multimillion dollar upgrades to the unit interiors, amenity spaces, landscaping, hallways and exterior.
"When we purchased The Enclave, we saw an in-demand asset with significant potential to increase revenue through a proven value-add program," says Karl Slovin, President of MWest Holdings. "Our team implemented a strong renovation and improvement program which has been very well received."
Comprised of one-, two-, and three-bedroom floor plans, a select number of the property's unit interiors were fully modernized with quartz countertops, stainless appliances, wood plank-style flooring, contemporary lighting, and new bathroom vanities. Common area amenity and hallway spaces were upgraded to showcase modern design and feature premium equipment, fixtures, and furniture. The Enclave's distinct amenity package includes two fitness centers, a collaborative co-working space, ample subterranean parking, and a resort-style pool area complete with spa, private cabanas, and an outdoor dining patio. MWest repainted the entire property, providing a striking visual lift to the exterior facade.
The Enclave is the only 50+ unit apartment development in the city of Paramount in the last 30 years and one of only three 200+ unit communities in the market area. Proximity to three major freeways and the Lakewood Green Line metro station provide residents with superior access to various decentralized employment centers throughout Los Angeles and Orange County.