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Multifamily

741 S Detroit Street

741 S Detroit St, Los Angeles, CA 90036

Listing Price: $2,495,000

Cap Rate
4.11%
Number of Units
4
Price/Unit
$623,750
Price/Gross SF
$563.33
Gross SF
4,429

Investment Overview

We are pleased to present 741 S.? Detroit Street, a turnkey 4-unit apartment building located in a highly desirable residential neighborhood of Miracle Mile, Los Angeles.? The property is comprised of 4,429 rentable square feet and consists of three (3) large one-bedroom/one-bathroom units and one (1) one-bedroom/one-bathroom + den unit.? All units are considerably large with an average size of approximately 1,100 square feet and feature in-unit laundry, most units have central A/C and heating, walk-in closets, high ceilings, and tons of light.? The large units, in combination with the unique sought-after features that they offer, create a perfect opportunity for an investor or an owner user seeking to live on the premises.? Besides for the 4 on-grade parking spaces, this property also boasts 4 detached parking garages which can be delivered vacant upon the close of escrow giving an investor the opportunity to immediately add value and capture the upside potential.? This is a true pride of ownership asset, as the current ownership has kept the property in immaculate condition all while persevering and maintaining the property's Historic and unique character.? With a Walk Score of 95, the location not only provides residents ideal proximity to a myriad of entertainment venues, cultural destinations, and world-class dining but also happens to be nearby to a variety of new, high-quality developments in the works.? Between Hackman Capital in the process of redeveloping the massive 25-acres CBS Television Studio lot, the Onni Group is currently working to reposition the one-million-square-feet Wilshire Courtyard business park, and the Metro Purple Line in the midst of a westward expansion running through Miracle Mile, the surrounding areas will surely benefit from the alterations in more ways than one.? Given the property's prime Miracle Mile location and anticipated future developments in the area, 741 S.? Detroit Street is an ideal investment for investors or owner-users seeking a pride of ownership property in one of the most sought-after neighborhoods in Los Angeles.?

Investment Highlights

  • Prime Miracle Mile Location
  • ?Central AC and Heating
  • ?Average Unit Size Averaging 1,100 SF
  • ?Each Unit includes In-Unit Laundry & Walk-in Closets
  • ?Features Four on-grade Parking Spaces + Four detached garages
  • ?Pride of ownership/preserved historic character

Exclusively Listed By

Financing By

Multifamily

741 S Detroit Street

Listing Price: $2,495,000

Cap Rate
4.11%
Number of Units
4
Price/Unit
$623,750
Price/Gross SF
$563.33
Gross SF
4,429

Investment Highlights

  • Prime Miracle Mile Location
  • ?Central AC and Heating
  • ?Average Unit Size Averaging 1,100 SF
  • ?Each Unit includes In-Unit Laundry & Walk-in Closets
  • ?Features Four on-grade Parking Spaces + Four detached garages
  • ?Pride of ownership/preserved historic character

Investment Overview

We are pleased to present 741 S.? Detroit Street, a turnkey 4-unit apartment building located in a highly desirable residential neighborhood of Miracle Mile, Los Angeles.? The property is comprised of 4,429 rentable square feet and consists of three (3) large one-bedroom/one-bathroom units and one (1) one-bedroom/one-bathroom + den unit.? All units are considerably large with an average size of approximately 1,100 square feet and feature in-unit laundry, most units have central A/C and heating, walk-in closets, high ceilings, and tons of light.? The large units, in combination with the unique sought-after features that they offer, create a perfect opportunity for an investor or an owner user seeking to live on the premises.? Besides for the 4 on-grade parking spaces, this property also boasts 4 detached parking garages which can be delivered vacant upon the close of escrow giving an investor the opportunity to immediately add value and capture the upside potential.? This is a true pride of ownership asset, as the current ownership has kept the property in immaculate condition all while persevering and maintaining the property's Historic and unique character.? With a Walk Score of 95, the location not only provides residents ideal proximity to a myriad of entertainment venues, cultural destinations, and world-class dining but also happens to be nearby to a variety of new, high-quality developments in the works.? Between Hackman Capital in the process of redeveloping the massive 25-acres CBS Television Studio lot, the Onni Group is currently working to reposition the one-million-square-feet Wilshire Courtyard business park, and the Metro Purple Line in the midst of a westward expansion running through Miracle Mile, the surrounding areas will surely benefit from the alterations in more ways than one.? Given the property's prime Miracle Mile location and anticipated future developments in the area, 741 S.? Detroit Street is an ideal investment for investors or owner-users seeking a pride of ownership property in one of the most sought-after neighborhoods in Los Angeles.?

Exclusively Listed By

Financing By

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