Multifamily

1423 W 20th Street

1423 W 20th Street, Los Angeles, CA 90007

Listing Price: $1,800,000

Cap Rate
4.71%
Number of Units
8
GRM
13.16
Occupancy
97.00%
Price/Unit
$225,000
Price/Gross SF
$363.27
Gross SF
4,955

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to purchase 1423 W 20th (the Property), an eight-unit multifamily building located within one-mile from the USC campus in Los Angeles, California. The Property provides an excellent opportunity to acquire a stable income-producing asset in a desirable Los Angeles rental market at a central location to major employment, educational, and entertainment centers within Koreatown, Downtown Los Angeles, and USC.

The Property is a 1966 construction with an attractive unit-mix including 2 two-bedroom/one-bath; 5 one-bedroom/one-bath; and 1 studio-bedroom/one-bath units. There are eight parking spaces and substantial recent improvements include seismic retrofitting, which is currently underway and will be completed before the close of escrow. The property allows for an investor to capture the tremendous upside without having to draw on significant CAPEX improvements.

The property is located one block east of Hoover Street and offers convenient access to the 10 and 110 Freeways, both of which are less than a 5-minute drive away. The Property is also just a 5-minute drive from a plethora of dining, shopping, and entertainment options in Downtown Los Angeles.

Investment Highlights

  • Attractively Priced at a 4.71% CAP Rate and 13.16 GRM
  • Undergoing Seismic Retrofitting
  • One-Mile to USC
  • Gated On-Site Parking
  • WalkScore of 84
  • Student Housing Conversion Opportunity

Exclusively Listed By

Listing Price: $1,800,000

Cap Rate
4.71%
Number of Units
8
GRM
13.16
Occupancy
97.00%
Price/Unit
$225,000
Price/Gross SF
$363.27
Gross SF
4,955

Investment Highlights

  • Attractively Priced at a 4.71% CAP Rate and 13.16 GRM
  • Undergoing Seismic Retrofitting
  • One-Mile to USC
  • Gated On-Site Parking
  • WalkScore of 84
  • Student Housing Conversion Opportunity

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to purchase 1423 W 20th (the Property), an eight-unit multifamily building located within one-mile from the USC campus in Los Angeles, California. The Property provides an excellent opportunity to acquire a stable income-producing asset in a desirable Los Angeles rental market at a central location to major employment, educational, and entertainment centers within Koreatown, Downtown Los Angeles, and USC.

The Property is a 1966 construction with an attractive unit-mix including 2 two-bedroom/one-bath; 5 one-bedroom/one-bath; and 1 studio-bedroom/one-bath units. There are eight parking spaces and substantial recent improvements include seismic retrofitting, which is currently underway and will be completed before the close of escrow. The property allows for an investor to capture the tremendous upside without having to draw on significant CAPEX improvements.

The property is located one block east of Hoover Street and offers convenient access to the 10 and 110 Freeways, both of which are less than a 5-minute drive away. The Property is also just a 5-minute drive from a plethora of dining, shopping, and entertainment options in Downtown Los Angeles.

Exclusively Listed By

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