LOS ANGELES, CA - MWest Holdings, a vertically integrated private real estate investment and property management company based in Los Angeles, with more than 2.5 million square feet of residential and commercial property across the U.S., announced the acquisition and planned renovation of The Enclave, a 306-unit, 300,000 SF garden-style apartment property, located at 13801 Paramount Blvd. in Paramount, CA. This acquisition marks MWest's seventh successful joint venture partnership with BentallGreenOak.
The Enclave is one of only six market-rate multifamily properties in excess of 200 units in Paramount, Norwalk, Downey, and Bellflower, and the only apartment community with more than 50 units developed in Paramount over the last 30 years.
Built in 1991 and situated on 4.93 acres, The Enclave includes six low-rise garden-style residential buildings and one recreation building. The unit mix includes one-, two- and three-bedrooms with an average size of 970 square feet. The units feature gas fireplaces and outdoor space, central air conditioning, and large closets. Common area amenities include a fitness center, pool, and dog run, among others, as well as ample subterranean parking.
Paramount's central location and proximity to multiple freeways provides convenient access to various decentralized employment centers that span Los Angeles and Orange County. Interstate 105, a major east-west artery, runs adjacent to the property, and four other major freeways are within a short drive. In addition, the Lakewood Green Line metro station is a 5-minute drive.
"We're excited about The Enclave purchase as it is in line with our broader acquisition strategy in the Los Angeles market, and is an ideal value-add purchase in an excellent location for driving demand," said Karl Slovin, President of MWest Holdings.
Source: MWest Holdings