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Multifamily

4810 St Elmo Dr

4810 St Elmo Dr, Los Angeles, CA 90019

Listing Price: $1,895,000

Cap Rate
3.74%
Number of Units
8
Price/Unit
$236,875
Price/Gross SF
$295.26
Gross SF
6,418

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale an eight-unit apartment community located at 4810 St Elmo Drive. The subject property is located just south of Venice Boulevard within a sought-after pocket of the Mid-City sub-market. Situated on a 7,000 square foot parcel, the property comprises of four one-bedroom units and four two-bedroom units. One of the units will be delivered vacant allowing a new owner to immediately renovate and achieve a market rental rate. The property has 87% remaining rental upside through unit renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate remaining units and achieve superior future returns moving forward makes 4810 St Elmo Drive an excellent acquisition opportunity.

Investment Highlights

  • One Unit Will be Delivered Vacant with 87 Percent Remaining Rental Upside Through Interior Renovations
  • New Roof Replacement
  • The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership Which Saves a New Investor Substantially in Capital and Time
  • With a Walk Score of 84 'Very Walkable' - Residents Enjoy Convenient Access to Employment Cents, Retail, and Entertainment From Miracle Mile & Koreatown
  • Offered at an Attractive Basis That is Lower Than the Recent Comparable Neighboring Sales

Exclusively Listed By

Financing By

Multifamily

4810 St Elmo Dr

Listing Price: $1,895,000

Cap Rate
3.74%
Number of Units
8
Price/Unit
$236,875
Price/Gross SF
$295.26
Gross SF
6,418

Investment Highlights

  • One Unit Will be Delivered Vacant with 87 Percent Remaining Rental Upside Through Interior Renovations
  • New Roof Replacement
  • The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership Which Saves a New Investor Substantially in Capital and Time
  • With a Walk Score of 84 'Very Walkable' - Residents Enjoy Convenient Access to Employment Cents, Retail, and Entertainment From Miracle Mile & Koreatown
  • Offered at an Attractive Basis That is Lower Than the Recent Comparable Neighboring Sales

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale an eight-unit apartment community located at 4810 St Elmo Drive. The subject property is located just south of Venice Boulevard within a sought-after pocket of the Mid-City sub-market. Situated on a 7,000 square foot parcel, the property comprises of four one-bedroom units and four two-bedroom units. One of the units will be delivered vacant allowing a new owner to immediately renovate and achieve a market rental rate. The property has 87% remaining rental upside through unit renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate remaining units and achieve superior future returns moving forward makes 4810 St Elmo Drive an excellent acquisition opportunity.

Exclusively Listed By

Financing By

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