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Multifamily

934 Arapahoe St

934 Arapahoe St, Los Angeles, CA 90006

Listing Price: $3,550,000

Cap Rate
4.49%
Number of Units
13
Price/Unit
$273,077
Price/Gross SF
$382.96
Gross SF
9,270

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire two multifamily apartment communities located at 934 Arapahoe Street & 2960 James M. Wood Boulevard totaling 25 (24+1NC) Units that can be sold together or separate. Situated just North of Olympic Boulevard and West of Hoover Street, the subject properties are located within one of Los Angeles’ most desirable neighborhoods. Koreatown is one of the most widely publicized and energized communities in Los Angeles. Current ownership has renovated 10 units at 2960 James M Wood Boulevard and 10 units at 934 Arapahoe Street. Both unit renovations feature hardwood floors, stainless steel appliances and high-quality finishes throughout. Additionally, one unit at James M Wood and two units at Arapahoe will be delivered vacant, providing immediate upside. Both offerings present investors a rare buying opportunity to purchase stabilized assets with remaining value-add components, providing passive income in a market that has shown consistent growth in population and rents year over year.

Investment Highlights

  • Three Units (One from James M Wood and Two Units from Arapahoe) Will be Delivered Vacant with 17 Percent Remaining Rental Upside Through Interior Renovations
  • While Current Ownership Has Completed Renovations to 80% of the Total Units, Investors Will Have an Excellent Opportunity to Continue these Improvements in the Remaining Units
  • With Walk Scores of 95 & 93 'Walker's Paradise,' Residents Enjoy Convenient Access to Employment Centers, Retail, and Entertainment
  • Possible Opportunity to Legalize Non-Conforming Unit Through the State's Favorable Attached Accessory Dwelling Unit (ADU) Program (Buyer to Verify)

Exclusively Listed By

Financing By

Multifamily

934 Arapahoe St

Listing Price: $3,550,000

Cap Rate
4.49%
Number of Units
13
Price/Unit
$273,077
Price/Gross SF
$382.96
Gross SF
9,270

Investment Highlights

  • Three Units (One from James M Wood and Two Units from Arapahoe) Will be Delivered Vacant with 17 Percent Remaining Rental Upside Through Interior Renovations
  • While Current Ownership Has Completed Renovations to 80% of the Total Units, Investors Will Have an Excellent Opportunity to Continue these Improvements in the Remaining Units
  • With Walk Scores of 95 & 93 'Walker's Paradise,' Residents Enjoy Convenient Access to Employment Centers, Retail, and Entertainment
  • Possible Opportunity to Legalize Non-Conforming Unit Through the State's Favorable Attached Accessory Dwelling Unit (ADU) Program (Buyer to Verify)

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire two multifamily apartment communities located at 934 Arapahoe Street & 2960 James M. Wood Boulevard totaling 25 (24+1NC) Units that can be sold together or separate. Situated just North of Olympic Boulevard and West of Hoover Street, the subject properties are located within one of Los Angeles’ most desirable neighborhoods. Koreatown is one of the most widely publicized and energized communities in Los Angeles. Current ownership has renovated 10 units at 2960 James M Wood Boulevard and 10 units at 934 Arapahoe Street. Both unit renovations feature hardwood floors, stainless steel appliances and high-quality finishes throughout. Additionally, one unit at James M Wood and two units at Arapahoe will be delivered vacant, providing immediate upside. Both offerings present investors a rare buying opportunity to purchase stabilized assets with remaining value-add components, providing passive income in a market that has shown consistent growth in population and rents year over year.

Exclusively Listed By

Financing By

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