Multifamily

1425 W 7th St

Listing Price: $6,250,000

Cap Rate
4.20%
Number of Units
24
Price/Unit
$260,417
Price/Gross SF
$324.51
Gross SF
19,260

Investment Overview

Totaling 19,260 SF, the subject property includes 24 apartment units, a retail space and turnkey office space located on the northeast corner of 7th & Valencia. This is a unique owner user or investment opportunity to purchase a building that has been meticulously maintained throughout the years with stable cash flow and additional upside in the retail and office rents. 1425 W 7th Street consists of 24 apartment units, a 1,150 SF retail space, and an 2,300 SF turnkey office. The property also features a 700 SF space that can be converted to additional office space or possible short-term rental unit. The 1,800 SF office with access from 7th Street is fully built out and ideal for an owner user to utilize as a turnkey office space. The retail space located on the hard corner of Valencia & 7th is currently leased at below market rent on a month-to-month basis to a convenience store operator. Unit 1425 B has direct, secure access from Valencia St and totals 700 SF. Currently used for storage, the space presents the opportunity to renovate and utilize as office or a short-term rental for additional income. Located on the second and third floors of the building, the 24 apartment units consist of 19 singles and 5 one-Bedrooms. 19 of the 24 units have undergone renovations. Three units (a single and two one-bedrooms) will be delivered vacant at the close of escrow. Since 2003, the subject property has had extensive capital expenditures including new copper plumbing, a new sewer drain system, copper wire electrical system, a new flat roof, and windows throughout. Utilities are low as gas and electricity are separately metered. In the basement, there is on-site laundry with three washers and dryers. Trash is located at the rear of the property secured by an enclosure with key access. Rare opportunity to acquire a turnkey asset with ease of management and strong current cash flow in apartment rents. There is substantial upside of over 56% in the retail and office rents. The building is ideal for an owner user to operate a business from the office space and collect passive income from the apartment and retail tenants with little renovation needed. The Westlake neighborhood continues to be one of the most densely populated neighborhoods in all of Los Angeles. With a walk score of 93, proximity to schools and employment and endless transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle.

Investment Highlights

  • The retail space located on the hard corner of Valencia & 7th is currently leased at below market rent on a month-to-month basis to a convenience store operator
  • 1425 W 7th Street is a 19,260 SF apartment building with retail & office located in the heart of Westlake, located on the northeast corner of 7th & Valencia
  • Consisting of 24 apartment units, a 1,150 SF retail space, and an 2,300 SF turnkey office, 1425 W 7th Street has been meticulously renovated and maintained throughout the years
  • Presents a perfect owner user or investment opportunity with stabilized cash flow in the apartment rents and additional upside in the office & retail; additional 700 SF space available for conversion
  • The 2,300 SF office with access from 7th Street has been owner occupied for several years and fully built out to be delivered as a turnkey office space for an owner user; the unit includes a full kitchen with gas stove, oven, refrigerator, cabinetry and dining area; there are two fully renovated bathrooms including showers

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

Listing Price: $6,250,000

Cap Rate
4.20%
Number of Units
24
Price/Unit
$260,417
Price/Gross SF
$324.51
Gross SF
19,260

Investment Highlights

  • The retail space located on the hard corner of Valencia & 7th is currently leased at below market rent on a month-to-month basis to a convenience store operator
  • 1425 W 7th Street is a 19,260 SF apartment building with retail & office located in the heart of Westlake, located on the northeast corner of 7th & Valencia
  • Consisting of 24 apartment units, a 1,150 SF retail space, and an 2,300 SF turnkey office, 1425 W 7th Street has been meticulously renovated and maintained throughout the years
  • Presents a perfect owner user or investment opportunity with stabilized cash flow in the apartment rents and additional upside in the office & retail; additional 700 SF space available for conversion
  • The 2,300 SF office with access from 7th Street has been owner occupied for several years and fully built out to be delivered as a turnkey office space for an owner user; the unit includes a full kitchen with gas stove, oven, refrigerator, cabinetry and dining area; there are two fully renovated bathrooms including showers

Investment Overview

Totaling 19,260 SF, the subject property includes 24 apartment units, a retail space and turnkey office space located on the northeast corner of 7th & Valencia. This is a unique owner user or investment opportunity to purchase a building that has been meticulously maintained throughout the years with stable cash flow and additional upside in the retail and office rents. 1425 W 7th Street consists of 24 apartment units, a 1,150 SF retail space, and an 2,300 SF turnkey office. The property also features a 700 SF space that can be converted to additional office space or possible short-term rental unit. The 1,800 SF office with access from 7th Street is fully built out and ideal for an owner user to utilize as a turnkey office space. The retail space located on the hard corner of Valencia & 7th is currently leased at below market rent on a month-to-month basis to a convenience store operator. Unit 1425 B has direct, secure access from Valencia St and totals 700 SF. Currently used for storage, the space presents the opportunity to renovate and utilize as office or a short-term rental for additional income. Located on the second and third floors of the building, the 24 apartment units consist of 19 singles and 5 one-Bedrooms. 19 of the 24 units have undergone renovations. Three units (a single and two one-bedrooms) will be delivered vacant at the close of escrow. Since 2003, the subject property has had extensive capital expenditures including new copper plumbing, a new sewer drain system, copper wire electrical system, a new flat roof, and windows throughout. Utilities are low as gas and electricity are separately metered. In the basement, there is on-site laundry with three washers and dryers. Trash is located at the rear of the property secured by an enclosure with key access. Rare opportunity to acquire a turnkey asset with ease of management and strong current cash flow in apartment rents. There is substantial upside of over 56% in the retail and office rents. The building is ideal for an owner user to operate a business from the office space and collect passive income from the apartment and retail tenants with little renovation needed. The Westlake neighborhood continues to be one of the most densely populated neighborhoods in all of Los Angeles. With a walk score of 93, proximity to schools and employment and endless transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle.

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

MM Texture Background
MM Textured Background Lower