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Multifamily

Elden Colonial Apartments

1133 Elden Ave, Los Angeles, CA 90006

Listing Price: $1,500,000

Cap Rate
3.82%
Number of Units
5
Price/Unit
$300,000
Price/Gross SF
$414.14
Gross SF
3,622

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a five-unit apartment community located at 1133 Elden Avenue. The subject property is located just south of Olympic Boulevard near Koreatown. Situated on an 8,354 square foot parcel, the property is comprised of one single, two one-bedroom units, one two-bedroom unit and one three-bedroom unit. Originally built in 1902, the subject property features large spacious units and on-site laundry. The property has 48% remaining rental upside through unit renovations. The subject property also presents an opportunity for development-minded investors. The 8,354 square foot parcel is zoned LAR4 and Tier 3 Transit Oriented Community (TOC). The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate unit interiors and achieve superior future returns moving forward makes 1133 Elden an excellent acquisition opportunity.

Investment Highlights

  • 48% Remaining Rental Upside Through Interior Renovations
  • 8,354 SF Lot Size, Zoned LAR4, Tier 3 TOC, Within an Opportunity Zone
  • The Subject Property is Located in a Dense Pocket Near Koreatown. With a Walk Score of 91 'Walker's Paradise' - Daily Errands do not Require a Car.
  • Priced at $180 per Land Square Foot, 1133 Elden Avenue Offers an Attractive Development Basis
  • New Ownership has Potential to Add Multiple Accessory Dweling Units (ADU's) to the Property Allowing for Added Future Growth and Appreciation Potential - Buyer to Verify
  • Family Owned and Operated, on the Market for the First Time in Over 53 Years

Exclusively Listed By

Multifamily

Elden Colonial Apartments

Listing Price: $1,500,000

Cap Rate
3.82%
Number of Units
5
Price/Unit
$300,000
Price/Gross SF
$414.14
Gross SF
3,622

Investment Highlights

  • 48% Remaining Rental Upside Through Interior Renovations
  • 8,354 SF Lot Size, Zoned LAR4, Tier 3 TOC, Within an Opportunity Zone
  • The Subject Property is Located in a Dense Pocket Near Koreatown. With a Walk Score of 91 'Walker's Paradise' - Daily Errands do not Require a Car.
  • Priced at $180 per Land Square Foot, 1133 Elden Avenue Offers an Attractive Development Basis
  • New Ownership has Potential to Add Multiple Accessory Dweling Units (ADU's) to the Property Allowing for Added Future Growth and Appreciation Potential - Buyer to Verify
  • Family Owned and Operated, on the Market for the First Time in Over 53 Years

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a five-unit apartment community located at 1133 Elden Avenue. The subject property is located just south of Olympic Boulevard near Koreatown. Situated on an 8,354 square foot parcel, the property is comprised of one single, two one-bedroom units, one two-bedroom unit and one three-bedroom unit. Originally built in 1902, the subject property features large spacious units and on-site laundry. The property has 48% remaining rental upside through unit renovations. The subject property also presents an opportunity for development-minded investors. The 8,354 square foot parcel is zoned LAR4 and Tier 3 Transit Oriented Community (TOC). The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate unit interiors and achieve superior future returns moving forward makes 1133 Elden an excellent acquisition opportunity.

Exclusively Listed By

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