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Multifamily

Park Vista Apartment Homes

2218 W Court St, Los Angeles, CA 90026

Listing Price: $8,750,000

Cap Rate
4.57%
Number of Units
28
Occupancy
97.0%
Price/Unit
$312,500
Price/Gross SF
$585.75
Gross SF
14,938

Investment Overview

Marcus & Millichap is pleased to present 2218 W. Court Street, a well located and maintained twenty-eight (28) unit apartment building in the trendy Historic Filipinotown neighborhood (“HiFi”) of Los Angeles, CA. Built in 1989, the property is not subject to LA City Rent Control (only subject to California State Rent Control). The building features an excellent unit mix consisting of sixteen (16) 1 bed/1 bath units, ten (10) 2 bed/1 bath units and two (2) 3 bed/1 bath units. Units feature air-conditioning (some with central air and others with wall units) and private balconies (select units). The building features covered parking, interior courtyard, secure gated access and an on-site laundry facility. The building sits on a 16,674 square foot lot that is LAR4 zoned. 2218 W. Court Street features a Walk Score of 84 as it is in close proximity to restaurants, cafes, grocery stores, retail and public transportation. Located on the cusp of Echo Park and Silverlake, Historic Filipinotown was designated by the city of Los Angeles as a historic-cultural neighborhood in 2002. In the past decade the area has seen a tremendous amount of development and has gained a reputation for its hip and trendy restaurant and bar scene with establishments such as HIFI Kitchen, Genever, Gra Pizzeria, Bloom and Plume, Boba Guys and Thunderbolt to name a few. The property is conveniently positioned near the 101, 110 and 5 freeways, providing convenient access to many job centers such as Downtown LA, Koreatown, Hollywood, Universal City, North Hollywood, Glendale, Burbank and Pasadena.

Investment Highlights

  • Well located and maintained 28-unit apartment building in the trendy Historic Filipinotown neighborhood of Los Angeles, CA
  • Built in 1989: not subject to LA City Rent Control (only subject to California State Rent Control)
  • Excellent unit mix consisting of sixteen (16) 1 bed/1 bath units, ten (10) 2 bed/1 bath units and two (2) 3 bed/1 bath units
  • Units feature air-conditioning (some with central air and others with wall units) and private balconies (select units)
  • Building features covered parking, interior courtyard, secure access and an on-site laundry facility
  • Walk Score of 84 as it is in close proximity to grocery stores, retail, public transportation and HiFi's hip and trendy restaurant and bar scene
  • High barrier to entry submarket with strong tenant demographics
  • Conveniently positioned near the 101, 110 and 5 freeways

Exclusively Listed By

Financing By

Multifamily

Park Vista Apartment Homes

Listing Price: $8,750,000

Cap Rate
4.57%
Number of Units
28
Occupancy
97.0%
Price/Unit
$312,500
Price/Gross SF
$585.75
Gross SF
14,938

Investment Highlights

  • Well located and maintained 28-unit apartment building in the trendy Historic Filipinotown neighborhood of Los Angeles, CA
  • Built in 1989: not subject to LA City Rent Control (only subject to California State Rent Control)
  • Excellent unit mix consisting of sixteen (16) 1 bed/1 bath units, ten (10) 2 bed/1 bath units and two (2) 3 bed/1 bath units
  • Units feature air-conditioning (some with central air and others with wall units) and private balconies (select units)
  • Building features covered parking, interior courtyard, secure access and an on-site laundry facility
  • Walk Score of 84 as it is in close proximity to grocery stores, retail, public transportation and HiFi's hip and trendy restaurant and bar scene
  • High barrier to entry submarket with strong tenant demographics
  • Conveniently positioned near the 101, 110 and 5 freeways

Investment Overview

Marcus & Millichap is pleased to present 2218 W. Court Street, a well located and maintained twenty-eight (28) unit apartment building in the trendy Historic Filipinotown neighborhood (“HiFi”) of Los Angeles, CA. Built in 1989, the property is not subject to LA City Rent Control (only subject to California State Rent Control). The building features an excellent unit mix consisting of sixteen (16) 1 bed/1 bath units, ten (10) 2 bed/1 bath units and two (2) 3 bed/1 bath units. Units feature air-conditioning (some with central air and others with wall units) and private balconies (select units). The building features covered parking, interior courtyard, secure gated access and an on-site laundry facility. The building sits on a 16,674 square foot lot that is LAR4 zoned. 2218 W. Court Street features a Walk Score of 84 as it is in close proximity to restaurants, cafes, grocery stores, retail and public transportation. Located on the cusp of Echo Park and Silverlake, Historic Filipinotown was designated by the city of Los Angeles as a historic-cultural neighborhood in 2002. In the past decade the area has seen a tremendous amount of development and has gained a reputation for its hip and trendy restaurant and bar scene with establishments such as HIFI Kitchen, Genever, Gra Pizzeria, Bloom and Plume, Boba Guys and Thunderbolt to name a few. The property is conveniently positioned near the 101, 110 and 5 freeways, providing convenient access to many job centers such as Downtown LA, Koreatown, Hollywood, Universal City, North Hollywood, Glendale, Burbank and Pasadena.

Exclusively Listed By

Financing By

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