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Multifamily

1452 West 20th St

1452 W 20th St, Los Angeles, CA 90007

Listing Price: $1,435,000

Cap Rate
4.59%
Number of Units
9
Price/Unit
$159,444
Price/Gross SF
$299.08
Gross SF
4,798

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a nine (8+1NC) unit apartment community located at 1452 West 20th Street. The subject property is located north of the University of Southern California, and just south of Koreatown. The property offers investors a unique opportunity to acquire a partially renovated building with a remaining rental upside and ready to issue permits for a 3 Bed + 2 Bath accessory dwelling unit at the rear of the property. Situated on a 7,500 square foot parcel, the property comprises of eight studios and a one-bedroom unit. Current Ownership has completed renovations to four units with brand-new stainless-steel kitchen appliances and new laminate floors. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate remaining units and add an additional dwelling unit should allow for superior returns moving forward making 1452 West 20th Street an excellent acquisition opportunity.

Investment Highlights

  • Current Ownership Has Completed Renovations to 44% of the Units, Investors will Have an Excellent Opportunity to Continue These Improvements in the Remaining Units and Capture Additional Rental Upside
  • New Ownership can Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciation Potential – Permits are "RTI" Status
  • There are 14 Total Parking Spaces for Nine Units
  • Current Ownership has Attentively Maintained the Property Which Has Very Little Deferred Maintenance
  • The Property is Located in a Gentrifying Pocket of Los Angeles. With a Walk Score of 75 'Very Walkable' - Residents Enjoy Convenient Access to Employment Centers, Retail, and Entertainment Options Within Koreatown & Downtown Los Angeles

Exclusively Listed By

Financing By

Multifamily

1452 West 20th St

Listing Price: $1,435,000

Cap Rate
4.59%
Number of Units
9
Price/Unit
$159,444
Price/Gross SF
$299.08
Gross SF
4,798

Investment Highlights

  • Current Ownership Has Completed Renovations to 44% of the Units, Investors will Have an Excellent Opportunity to Continue These Improvements in the Remaining Units and Capture Additional Rental Upside
  • New Ownership can Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciation Potential – Permits are "RTI" Status
  • There are 14 Total Parking Spaces for Nine Units
  • Current Ownership has Attentively Maintained the Property Which Has Very Little Deferred Maintenance
  • The Property is Located in a Gentrifying Pocket of Los Angeles. With a Walk Score of 75 'Very Walkable' - Residents Enjoy Convenient Access to Employment Centers, Retail, and Entertainment Options Within Koreatown & Downtown Los Angeles

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a nine (8+1NC) unit apartment community located at 1452 West 20th Street. The subject property is located north of the University of Southern California, and just south of Koreatown. The property offers investors a unique opportunity to acquire a partially renovated building with a remaining rental upside and ready to issue permits for a 3 Bed + 2 Bath accessory dwelling unit at the rear of the property. Situated on a 7,500 square foot parcel, the property comprises of eight studios and a one-bedroom unit. Current Ownership has completed renovations to four units with brand-new stainless-steel kitchen appliances and new laminate floors. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate remaining units and add an additional dwelling unit should allow for superior returns moving forward making 1452 West 20th Street an excellent acquisition opportunity.

Exclusively Listed By

Financing By

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