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Multifamily

626 W 81st St

626 W 81st St, Los Angeles, CA 90044

Listing Price: $2,400,000

Cap Rate
3.86%
Number of Units
11
Price/Unit
$218,182
Price/Gross SF
$289.86
Gross SF
8,280

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire two 11-unit multifamily communities located at 702 West 81st Street and 626 West 81st Street that can be sold together or separate. The subject properties are walking distance to multiple transit options, facilitating residents the ability to travel throughout Los Angeles and provides convenient access to daily errands and retail options. Positioned just four miles from the University of Southern California and 3.7 miles from the Forum and the SoFi Stadium, 626 and 702 West 81st Street are located south of Florence Avenue and East of Vermont Avenue near the 110 freeway. Built in 1965, 626 West 81st Street consists of seven two-bedroom units and four one-bedroom units and offers eight parking spaces. Two units will be delivered vacant, providing investors an immediate value-add opportunity. Built in 1961, 702 West 81st Street also consists of seven two-bedroom units and four one-bedroom units and offers eight parking spaces. Investors will have the opportunity to acquire a value-add investment with 90% upside through unit renovations.

Investment Highlights

  • VALUE-ADD OPPORTUNITY: Remaining Rental Upside Through Capital Improvements and Interior Upgrades to Unrenovated Units – 90% for 702 West 81st Street and 51% for 626 West 81st Street
  • SOFT-STORY PARKING RETROFIT COMPLETED: The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership – 22 Total Secured Parking Spaces
  • The Vermont Vista Neighborhood is a Growing Urban Location Proximate to Inglewood. The Subject Property is Only 3.7 Miles Away from the $5 Billion SoFi Development
  • A LEGACY ASSET: Long Term Ownership and Has Not Been on the Market in Over 45 Years
  • ATTRACTIVE UNIT MIX:A Total of Fourteen (14) Two-Bedroom/One-Bathroom Units & Eight (8) One-Bedroom/One-Bath Units

Exclusively Listed By

Financing By

Multifamily

626 W 81st St

Listing Price: $2,400,000

Cap Rate
3.86%
Number of Units
11
Price/Unit
$218,182
Price/Gross SF
$289.86
Gross SF
8,280

Investment Highlights

  • VALUE-ADD OPPORTUNITY: Remaining Rental Upside Through Capital Improvements and Interior Upgrades to Unrenovated Units – 90% for 702 West 81st Street and 51% for 626 West 81st Street
  • SOFT-STORY PARKING RETROFIT COMPLETED: The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership – 22 Total Secured Parking Spaces
  • The Vermont Vista Neighborhood is a Growing Urban Location Proximate to Inglewood. The Subject Property is Only 3.7 Miles Away from the $5 Billion SoFi Development
  • A LEGACY ASSET: Long Term Ownership and Has Not Been on the Market in Over 45 Years
  • ATTRACTIVE UNIT MIX:A Total of Fourteen (14) Two-Bedroom/One-Bathroom Units & Eight (8) One-Bedroom/One-Bath Units

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire two 11-unit multifamily communities located at 702 West 81st Street and 626 West 81st Street that can be sold together or separate. The subject properties are walking distance to multiple transit options, facilitating residents the ability to travel throughout Los Angeles and provides convenient access to daily errands and retail options. Positioned just four miles from the University of Southern California and 3.7 miles from the Forum and the SoFi Stadium, 626 and 702 West 81st Street are located south of Florence Avenue and East of Vermont Avenue near the 110 freeway. Built in 1965, 626 West 81st Street consists of seven two-bedroom units and four one-bedroom units and offers eight parking spaces. Two units will be delivered vacant, providing investors an immediate value-add opportunity. Built in 1961, 702 West 81st Street also consists of seven two-bedroom units and four one-bedroom units and offers eight parking spaces. Investors will have the opportunity to acquire a value-add investment with 90% upside through unit renovations.

Exclusively Listed By

Financing By

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