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Multifamily

1405 Armadale Avenue, 90042

1405 Armadale Ave, Los Angeles, CA 90042

Listing Price: $3,750,000

Cap Rate
5.16%
Number of Units
10
GRM
13.53
Price/Unit
$375,000
Price/Gross SF
$710.23
Gross SF
5,280

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 10-unit apartment community located at 1405 Armadale Avenue. The subject property is located just east of Eagle Rock Boulevard between Highland Park & Eagle Rock, which are viewed as some of the most widely publicized and newly energized communities in Los Angeles.

The property is located a block south of Occidental College, sandwiched between the desirable markets of Highland Park & Eagle Rock. Over the years, both of these communities have emerged as sought after markets due to the rapidly developing area. Both communities have long been perceived by investors as stable rental markets due to their proximity to Glendale, Pasadena & Downtown Los Angeles.

Situated on a 15,001 square foot parcel, the property comprises entirely of individual one-bedroom bungalow style units. The property was fully renovated in 2015 and the buildings were gutted to the frame and completely redone. The entire electrical system was replaced and both plumbing and gas were redone with permits. Unit interiors include washer/dryers, upgraded kitchens with glass tiles, stainless steel appliances, and outside decks with ceramic tile.

The continued gentrification of the surrounding area along with the opportunity for an investor to acquire a beautifully renovated property with stable income for the foreseeable future makes 1405 Armadale Avenue an excellent acquisition opportunity.

Investment Highlights

  • Common Areas and All Units Have Been Fully Renovated with Condo Quality Finishes Including Stainless Steel Kitchen Appliances, Quartz Countertops, and Fully Updated Electrical/Plumbing/Gas Systems
  • Conveniently Located Near the 110 Freeway and Walking Distance to the Avenue 57 Metro Gold Line – Providing Easy Access to Downtown Los Angeles and Pasadena
  • Located Between Two of the Most Sought After Submarkets on the Eastside of Los Angeles, Highland Park & Eagle Rock. Tenants Enjoy Convenient Access to Shopping, Dining & Entertainment in the Area
  • Situated on a 15,001 Square Foot Lot, Armadale Avenue is Aligned with the Evolving Needs of Today's Renters – A Low Density Community with Beautiful Common Area Outdoor Space with Fire Pit & BBQ Area
  • Situated on a 15,001 Square Foot Lot, Armadale Avenue is Aligned with the Evolving Needs of Today's Renters – A Low Density Community with Beautiful Common Area Outdoor Space with Fire Pit & BBQ Area

Exclusively Listed By

Financing By

Multifamily

1405 Armadale Avenue, 90042

Listing Price: $3,750,000

Cap Rate
5.16%
Number of Units
10
GRM
13.53
Price/Unit
$375,000
Price/Gross SF
$710.23
Gross SF
5,280

Investment Highlights

  • Common Areas and All Units Have Been Fully Renovated with Condo Quality Finishes Including Stainless Steel Kitchen Appliances, Quartz Countertops, and Fully Updated Electrical/Plumbing/Gas Systems
  • Conveniently Located Near the 110 Freeway and Walking Distance to the Avenue 57 Metro Gold Line – Providing Easy Access to Downtown Los Angeles and Pasadena
  • Located Between Two of the Most Sought After Submarkets on the Eastside of Los Angeles, Highland Park & Eagle Rock. Tenants Enjoy Convenient Access to Shopping, Dining & Entertainment in the Area
  • Situated on a 15,001 Square Foot Lot, Armadale Avenue is Aligned with the Evolving Needs of Today's Renters – A Low Density Community with Beautiful Common Area Outdoor Space with Fire Pit & BBQ Area
  • Situated on a 15,001 Square Foot Lot, Armadale Avenue is Aligned with the Evolving Needs of Today's Renters – A Low Density Community with Beautiful Common Area Outdoor Space with Fire Pit & BBQ Area

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 10-unit apartment community located at 1405 Armadale Avenue. The subject property is located just east of Eagle Rock Boulevard between Highland Park & Eagle Rock, which are viewed as some of the most widely publicized and newly energized communities in Los Angeles. The property is located a block south of Occidental College, sandwiched between the desirable markets of Highland Park & Eagle Rock. Over the years, both of these communities have emerged as sought after markets due to the rapidly developing area. Both communities have long been perceived by investors as stable rental markets due to their proximity to Glendale, Pasadena & Downtown Los Angeles. Situated on a 15,001 square foot parcel, the property comprises entirely of individual one-bedroom bungalow style units. The property was fully renovated in 2015 and the buildings were gutted to the frame and completely redone. The entire electrical system was replaced and both plumbing and gas were redone with permits. Unit interiors include washer/dryers, upgraded kitchens with glass tiles, stainless steel appliances, and outside decks with ceramic tile. The continued gentrification of the surrounding area along with the opportunity for an investor to acquire a beautifully renovated property with stable income for the foreseeable future makes 1405 Armadale Avenue an excellent acquisition opportunity.

Exclusively Listed By

Financing By

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