Investment Overview

Marcus & Millichap is pleased to present 512 S South Park View St, a 39-unit apartment building in the Westlake neighborhood of Los Angeles located between W 3rd St & W 6th St, walking distance to MacArthur Park The property features a unit mix made up of 31 singles and eight one-bedrooms; three units (two singles and one one-bedroom) will be delivered vacant at the close of escrow At the asking price, the property is being offered at a low $283 PSF, 5.00% CAP rate and 11.33 GRM on current income with an additional 22% rental upside achievable as units turn The building has a gated, secure entrance with an intercom system, there is also community laundry High Walk Score of 92, residents benefit from multiple metro bus line stops along 6th Ave and just one mile from the metro rail lines Central location that is beneficial for residents that commute throughout the city with close proximity to Downtown Los Angeles, Koreatown, Echo Park, and Silver Lake, walking distance to retail along S Alvarado St as well as the St. Vincent Medical Center Ideal rental market that continues to grow, illustrated through the plentiful new developments currently under construction in the area such as 1800 W Beverly Blvd (243 units), Inspire Echo Park (90 units), and 1999 W 3rd St (137 units)