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Multifamily

Villa Edgemont

1570 N Edgemont St, Los Angeles, CA 90027

Listing Price: $14,750,000

Cap Rate
3.96%
Number of Units
44
Price/Unit
$335,227
Price/Gross SF
$445.93
Gross SF
33,077

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale Villa Edgemont (The “Property”), a 44-unit value add property centrally located in the heart of Los Feliz. The Property was built in 1959 adjacent to Barnsdall Art Park, and features a unique building layout with an abundance of community space and stunning views of the Hollywood sign, Griffith Observatory, the Hollywood Hills and West Los Angeles. Villa Edgemont is within walking distance or a short drive away from Los Feliz’s plethora of artsy and hip coffee shops, theaters, boutiques, and sidewalk cafes. Additionally, the Property offers investors the opportunity to significantly increase rents by renovating the remaining classic finished units to a high-end scope.

Investment Highlights

  • Compelling Value-Add Opportunity: Investors will have the opportunity to capture more than 20% upside in rental income by renovating the 20 remaining classic finished units.
  • Los Feliz Remains Resilient and in High Demand: The Los Feliz submarket is showing strong multifamily demand with nearly 5% rent growth and 95% occupancy forecasted for 2023 (CoStar).
  • A Rare Acquisition Opportunity: Villa Edgemont represents a rare opportunity to acquire a large apartment community located in Los Feliz. Opportunities like this only surface roughly once per year.
  • Los Feliz – The Original Creative Community: Residents have access to complete array of cultural and recreational activities from old school bars and restaurants like the Dresden to the Greek theatre, from Frank Lloyd Wright Wine Tasting Events to Griffith Park.
  • A Quiet Yet Convenient Alternative to Congested Hollywood: As the work from home or hybrid model becomes a model for the future, many renters are willing to pay premiums to enjoy a lower density community.

Exclusively Listed By

Multifamily

Villa Edgemont

Listing Price: $14,750,000

Cap Rate
3.96%
Number of Units
44
Price/Unit
$335,227
Price/Gross SF
$445.93
Gross SF
33,077

Investment Highlights

  • Compelling Value-Add Opportunity: Investors will have the opportunity to capture more than 20% upside in rental income by renovating the 20 remaining classic finished units.
  • Los Feliz Remains Resilient and in High Demand: The Los Feliz submarket is showing strong multifamily demand with nearly 5% rent growth and 95% occupancy forecasted for 2023 (CoStar).
  • A Rare Acquisition Opportunity: Villa Edgemont represents a rare opportunity to acquire a large apartment community located in Los Feliz. Opportunities like this only surface roughly once per year.
  • Los Feliz – The Original Creative Community: Residents have access to complete array of cultural and recreational activities from old school bars and restaurants like the Dresden to the Greek theatre, from Frank Lloyd Wright Wine Tasting Events to Griffith Park.
  • A Quiet Yet Convenient Alternative to Congested Hollywood: As the work from home or hybrid model becomes a model for the future, many renters are willing to pay premiums to enjoy a lower density community.

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for sale Villa Edgemont (The “Property”), a 44-unit value add property centrally located in the heart of Los Feliz. The Property was built in 1959 adjacent to Barnsdall Art Park, and features a unique building layout with an abundance of community space and stunning views of the Hollywood sign, Griffith Observatory, the Hollywood Hills and West Los Angeles. Villa Edgemont is within walking distance or a short drive away from Los Feliz’s plethora of artsy and hip coffee shops, theaters, boutiques, and sidewalk cafes. Additionally, the Property offers investors the opportunity to significantly increase rents by renovating the remaining classic finished units to a high-end scope.

Exclusively Listed By

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