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Multifamily

Somerset Apartments

6075 Franklin Ave, Los Angeles, CA 90028

Listing Price: $14,900,000

Cap Rate
4.24%
Number of Units
71
Price/Unit
$209,859
Price/Gross SF
$313.39
Gross SF
47,544

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire 6075 Franklin Avenue, a 71-unit multifamily investment opportunity located in the supply constrained city of Los Angeles, CA.

Investment Highlights

  • 71 Units in Excellent Hollywood Location! (71 Apartment Units Plus 1 Non-Conforming Unit & 1 Retail - Buyer to Verify)
  • Charming 1920's Architecture with Arched Windows & Landscaped Courtyard Entry!
  • Property Amenities Include a Pool, an Elevator, On-Site Laundry (Leased), and On-Site Parking (Assigned and Charged Month-to-Month for $125/space)!
  • Building Features a Manager's Office, Security Camera System, Secured Entry Lobby & Sprinkler System!
  • Large 35,248 SF Corner Lot Zoned LAR3!
  • Excellent Value Add Opportunity with Over 20% Rental Upside! | Annual Rent Increase can be 4% Due to Water & Gas being Master Metered (Buyer to Verify)

Exclusively Listed By

Financing By

Multifamily

Somerset Apartments

Listing Price: $14,900,000

Cap Rate
4.24%
Number of Units
71
Price/Unit
$209,859
Price/Gross SF
$313.39
Gross SF
47,544

Investment Highlights

  • 71 Units in Excellent Hollywood Location! (71 Apartment Units Plus 1 Non-Conforming Unit & 1 Retail - Buyer to Verify)
  • Charming 1920's Architecture with Arched Windows & Landscaped Courtyard Entry!
  • Property Amenities Include a Pool, an Elevator, On-Site Laundry (Leased), and On-Site Parking (Assigned and Charged Month-to-Month for $125/space)!
  • Building Features a Manager's Office, Security Camera System, Secured Entry Lobby & Sprinkler System!
  • Large 35,248 SF Corner Lot Zoned LAR3!
  • Excellent Value Add Opportunity with Over 20% Rental Upside! | Annual Rent Increase can be 4% Due to Water & Gas being Master Metered (Buyer to Verify)

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire 6075 Franklin Avenue, a 71-unit multifamily investment opportunity located in the supply constrained city of Los Angeles, CA.

Exclusively Listed By

Financing By

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