Multifamily
Griffin Ave Assemblage
4516 Griffin Ave, Los Angeles, CA 90031
Listing Price: $2,750,000
Cap Rate
2.01%
Number of Units
10
GRM
20.40
Price/Unit
$275,000
Price/Gross SF
$400.64
Gross SF
6,864
Investment Overview
Marcus and Millichap is pleased to present the opportunity to acquire a five-property assemblage located in the Montecito Heights neighborhood of East Los Angeles.
Griffin Ave Assemblage
Investment Highlights
- Five Separately Parceled Lots Totaling Over 26,000 SF!
- Vacant Land Provides Potential Development Opportunities!
- Great Mix of Bungalow Styled Units and Apartment Style Units!
- On-Site Parking for Tenants!
- Supply Constrained 90031 Zip Code!
- The Property is Located in the Historically Rich Neighborhood of Montecito Heights Located Just Northeast of Downtown Los Angeles. Fueled by Increasing Demand from Young Professionals and Investors Seeking Affordable Housing Options within Close Proximity to Downtown Los Angeles.
- Designated a Historical Property and Eligible for the Mills Act to Qualify for Property Tax Abatement!
- Located in an Opportunity Zone & East Los Angeles State Enterprise Zone.
Exclusively Listed By
Listing Price: $2,750,000
Cap Rate
2.01%
Number of Units
10
GRM
20.40
Price/Unit
$275,000
Price/Gross SF
$400.64
Gross SF
6,864
Investment Highlights
- Five Separately Parceled Lots Totaling Over 26,000 SF!
- Vacant Land Provides Potential Development Opportunities!
- Great Mix of Bungalow Styled Units and Apartment Style Units!
- On-Site Parking for Tenants!
- Supply Constrained 90031 Zip Code!
- The Property is Located in the Historically Rich Neighborhood of Montecito Heights Located Just Northeast of Downtown Los Angeles. Fueled by Increasing Demand from Young Professionals and Investors Seeking Affordable Housing Options within Close Proximity to Downtown Los Angeles.
- Designated a Historical Property and Eligible for the Mills Act to Qualify for Property Tax Abatement!
- Located in an Opportunity Zone & East Los Angeles State Enterprise Zone.
Investment Overview
Marcus and Millichap is pleased to present the opportunity to acquire a five-property assemblage located in the Montecito Heights neighborhood of East Los Angeles.
Exclusively Listed By
