Investment Overview

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 812 North Martel Avenue in Los Angeles, California. The subject property is located in a prime Melrose location, north of Melrose Avenue and west of North La Brea Avenue. Employment hubs, retail and restaurants draw a diverse crowd to the lively Melrose/Fairfax area. Fairfax Avenue is one of the main north-south thoroughfares throughout Los Angeles; spanning a length of 5 miles, Fairfax is home to historic landmarks like LACMA (Los Angeles County Museum of Art), the Original Farmer’s Market and The Grove, the Melrose Trading Post, CBS Studios, Television City all within a 10-minute walk from the subject property. This pocket is home to a long-standing Jewish community and offers a ton of kosher dining options, some more notorious like Canter’s Deli. With a walk score of 97, this location offers tenants every amenity required for daily tasks within a very short walk from the building. Built in 1964, Martel features a great unit mix of six (6) one-bedroom / one-bathroom units and four (4) two-bedroom / two-bathroom units. The units are large, averaging about 900 square feet each. Select units feature balconies, with views of the city. The building’s envelope is a stone-deco architecture that is complimented by thoughtful landscaping and secured walkway entry to the units, and the parking. The building is fully parked with tuck-under parking that has been reinforced for seismic retrofitting in 2018. Some of the most notable places that tenants will enjoy close to the building are Pink’s, Osteria Mozza, Blu Jam Café, Ronan, Blue Bottle Coffee, among others. Situated in a prime pocket of Melrose, this offering presents an excellent opportunity for an astute investor to capitalize on strong rental upside, at very favorable entry pricing, in a mature and low-velocity market.