Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 838 N Las Palmas Avenue, an elegant, well-maintained four-unit multifamily property located just two blocks from Hancock Park in Los Angeles, CA. The exterior features sparkling water fountains, an elegant breezeway, and beautifully manicured hedges, while the well-appointed interiors are befitting of a property located between Hancock Park, Larchmont, Fairfax, and Hollywood. Apartment interiors feature in-unit washer/dryers, chandeliers, imported Italian Carrera countertops, stainless steel appliances, central air/heat, recessed lighting, wood flooring, and decorative archways. Tenants at the property enjoy convenient access to Larchmont Village, a collection of trendy boutiques and bistros just a 25-minute walk from the property. Also nearby are The Grove, The Original Farmers Market, Wilshire Country Club, and the Beverly Center. With mostly two-bedroom units, the building features spacious floorplans and offers ample on-site parking for tenants. A new investor can benefit from the relatively turnkey nature of the asset and the opportunity to secure more flexible residential financing. Similar quadruplexes in the area have been transacting at a 3.86% CAP Rate in recent months, however the subject property is available for a higher 5.01% CAP Rate to a savvy investor.