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Multifamily

159 East 83rd Street

159 E 83rd St, Los Angeles, CA 90003

Listing Price: $850,000

Cap Rate
6.03%
Number of Units
2
GRM
11.81
Price/Unit
$425,000
Price/Gross SF
$533.92
Gross SF
1,592

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 2008 constructed duplex apartment community located at 159 East 83rd Street. The subject property is located just north of Firestone Boulevard and east of the 110 Freeway within the dense South Los Angeles Sub-Market.

South Los Angeles, nestled south of downtown, is a dynamic urban neighborhood where diverse cultures intermingle, creating a rich mosaic of traditions and experiences. South LA’s strong sense of community shines through at local parks and venues, while recent urban revitalization efforts have brought new businesses and dining options.

Situated on a 4,851 square foot parcel, the property is comprised entirely of three-bedroom one-bathroom units. There is 15% rental upside through interior renovations.

The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue improvements and achieve superior future returns moving forward makes 159 East 83rd Street an excellent acquisition opportunity.

*The Subject Property is being marketed in conjunction with 5 other offerings. Each offering can be purchased individually or together.

Investment Highlights

  • Due to 2008 Construction, Not Subject to City of Los Angeles Rent Control, Only Subject to AB1482 State Rent Control
  • The Property Comprises Entirely of Three-Bedroom & One-Bathroom Units *Buyer to Verify Unit Configuration
  • Located in a Dense Pocket of the Historic South Central District. Residents Enjoy Convenient Access to Employment Centers, Retail & Entertainment
  • Professionally Managed Building that has Been Attentively Maintained
  • On-Site Parking with No Seismic Retrofit Requirements

Exclusively Listed By

Multifamily

159 East 83rd Street

Listing Price: $850,000

Cap Rate
6.03%
Number of Units
2
GRM
11.81
Price/Unit
$425,000
Price/Gross SF
$533.92
Gross SF
1,592

Investment Highlights

  • Due to 2008 Construction, Not Subject to City of Los Angeles Rent Control, Only Subject to AB1482 State Rent Control
  • The Property Comprises Entirely of Three-Bedroom & One-Bathroom Units *Buyer to Verify Unit Configuration
  • Located in a Dense Pocket of the Historic South Central District. Residents Enjoy Convenient Access to Employment Centers, Retail & Entertainment
  • Professionally Managed Building that has Been Attentively Maintained
  • On-Site Parking with No Seismic Retrofit Requirements

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 2008 constructed duplex apartment community located at 159 East 83rd Street. The subject property is located just north of Firestone Boulevard and east of the 110 Freeway within the dense South Los Angeles Sub-Market. South Los Angeles, nestled south of downtown, is a dynamic urban neighborhood where diverse cultures intermingle, creating a rich mosaic of traditions and experiences. South LA’s strong sense of community shines through at local parks and venues, while recent urban revitalization efforts have brought new businesses and dining options. Situated on a 4,851 square foot parcel, the property is comprised entirely of three-bedroom one-bathroom units. There is 15% rental upside through interior renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue improvements and achieve superior future returns moving forward makes 159 East 83rd Street an excellent acquisition opportunity. *The Subject Property is being marketed in conjunction with 5 other offerings. Each offering can be purchased individually or together.

Exclusively Listed By

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