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Multifamily

7804-7808 S Western Ave

7804-7808 S Western Ave, Los Angeles, CA 90047

Listing Price: $725,000

Cap Rate
4.79%
Number of Units
4
GRM
13.05
Occupancy
100.0%
Price/Unit
$181,250
Price/Gross SF
$431.55
Gross SF
1,680

Investment Overview

Marcus and Millichap is pleased to present two (2) concurrent duplexes located at 7804-7808 S Western Avenue in Los Angeles, California. The subject property is located in a solid South Los Angeles location, south of W Florence Avenue and west of S Normandie Avenue.

South LA is a large region of Los Angeles made up of the neighborhoods south of Downtown L.A. This area is multi-culturally and economically diverse and offers residents a dense suburban feel in a historic market of Los Angeles. Residents can take advantage of the area’s many food and entertainment spaces within walking distance of the subject properties. The more noteworthy news for the area is the great revitalization plan for South L.A. For the first time in decades, major development projects are underway in South L.A. Most prominently, an incredible state of the art NFL stadium just opened in Inglewood-- and it will be surrounded by a planned community made up of thousands of new homes. But the development wave doesn’t stop there. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from West Adams to Watts. The county and Metro are teaming up to find a developer to build 492 residential units, a grocery store, theater, and locally owned restaurants located at 3606 West Exposition Boulevard. The Lucas Museum of Narrative Art, South L.A. Wetlands Park, Hollywood Park, Clipper’s Arena, and Magic Johnson Park are some more examples of developments currently underway.

Built in 1947 and 1952, this concurrent double-lot contains a streamlined unit mix of four (4) one-bedroom / one-bathroom bungalow style units spread across two (2) duplexes. The double lot has a favorable zoning of LAC2-1VL-CPIO under the South Los Angeles implementation overlay with addition TOC incentives under tier 1, and ED 1 eligibility to eliminate parking requirements. This opens countless opportunities to add value in this changing neighborhood. The property sits between two (2) new construction residential developments, one (1) under construction to the north and one (1) 2018 construction to the south. The zoning and abutting 16ft alleyway allows the construction of seven (7) units by-right, or twenty-four (24) potential buildable units based off an increased base density per CPIO in a TOC project. Alternatively, there is also potential to build multiple ADU units in the back of the property.

Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor or developer to capitalize on adding value in a rapidly changing market of Los Angeles.

Investment Highlights

  • Solid South Los Angeles Location
  • Two (2) Concurrent Duplexes
  • Character, Bungalow Style Units
  • Qualifies for 30-Year Fixed Residential Financing
  • Property Sits Between Two (2) New Construction Residential Properties
  • Potential to Add Multiple ADU Unit(s) in the Back of the Property
  • Favorable Zoning of LAC2-1VL-CPIO with Tier 1 TOC & ED 1 Eligibility on a Double-Lot
  • Fully Parked On-Site Parking Available

Exclusively Listed By

Financing By

Multifamily

7804-7808 S Western Ave

Listing Price: $725,000

Cap Rate
4.79%
Number of Units
4
GRM
13.05
Occupancy
100.0%
Price/Unit
$181,250
Price/Gross SF
$431.55
Gross SF
1,680

Investment Highlights

  • Solid South Los Angeles Location
  • Two (2) Concurrent Duplexes
  • Character, Bungalow Style Units
  • Qualifies for 30-Year Fixed Residential Financing
  • Property Sits Between Two (2) New Construction Residential Properties
  • Potential to Add Multiple ADU Unit(s) in the Back of the Property
  • Favorable Zoning of LAC2-1VL-CPIO with Tier 1 TOC & ED 1 Eligibility on a Double-Lot
  • Fully Parked On-Site Parking Available

Investment Overview

Marcus and Millichap is pleased to present two (2) concurrent duplexes located at 7804-7808 S Western Avenue in Los Angeles, California. The subject property is located in a solid South Los Angeles location, south of W Florence Avenue and west of S Normandie Avenue. South LA is a large region of Los Angeles made up of the neighborhoods south of Downtown L.A. This area is multi-culturally and economically diverse and offers residents a dense suburban feel in a historic market of Los Angeles. Residents can take advantage of the area’s many food and entertainment spaces within walking distance of the subject properties. The more noteworthy news for the area is the great revitalization plan for South L.A. For the first time in decades, major development projects are underway in South L.A. Most prominently, an incredible state of the art NFL stadium just opened in Inglewood-- and it will be surrounded by a planned community made up of thousands of new homes. But the development wave doesn’t stop there. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from West Adams to Watts. The county and Metro are teaming up to find a developer to build 492 residential units, a grocery store, theater, and locally owned restaurants located at 3606 West Exposition Boulevard. The Lucas Museum of Narrative Art, South L.A. Wetlands Park, Hollywood Park, Clipper’s Arena, and Magic Johnson Park are some more examples of developments currently underway. Built in 1947 and 1952, this concurrent double-lot contains a streamlined unit mix of four (4) one-bedroom / one-bathroom bungalow style units spread across two (2) duplexes. The double lot has a favorable zoning of LAC2-1VL-CPIO under the South Los Angeles implementation overlay with addition TOC incentives under tier 1, and ED 1 eligibility to eliminate parking requirements. This opens countless opportunities to add value in this changing neighborhood. The property sits between two (2) new construction residential developments, one (1) under construction to the north and one (1) 2018 construction to the south. The zoning and abutting 16ft alleyway allows the construction of seven (7) units by-right, or twenty-four (24) potential buildable units based off an increased base density per CPIO in a TOC project. Alternatively, there is also potential to build multiple ADU units in the back of the property. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor or developer to capitalize on adding value in a rapidly changing market of Los Angeles.

Exclusively Listed By

Financing By

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