Multifamily

1513 West 11th Place

Listing Price: $1,850,000

Cap Rate
4.32%
Number of Units
8
Price/Unit
$231,250
Price/Gross SF
$232.06
Gross SF
7,972

Investment Overview

Marcus and Millichap, as the exclusive listing agent is pleased to offer for sale an eight unit apartment community located at 1513 West 11th Place. The subject property offers investors the opportunity to acquire a property with stable operating history that is located less than one mile from the Staples Center, L.A. Live and numerous retail opportunities. Consisting of one two-story building, the property is situated on a 9,186 square foot parcel. The property features eight large units with secured parking for every unit and is individually metered for all utilities. Due to its 1910 construction, the property is subject to the Los Angeles Housing Department's Rent Stabilization Ordinance. 1513 West 11th Place is located just south of Olympic Boulevard and east of Union Avenue. An investor will be able to increase the lease rates when units become vacant by capitalizing on the westward expansion and revitalization of the Downtown sub-market .

Investment Highlights

  • Future Redevelopment Potential – 9,186 Square Feet Lot Size Zoned R4 Tier 2 TOC
  • The Property is Approximately 0.6 Miles to L.A. Live and Staples Center
  • Approximately 31 percent of remaining upside potential with unit turnover
  • ON SITE PARKING: Eight Parking Spaces with No Retrofit Required

Exclusively Listed By

Listing Price: $1,850,000

Cap Rate
4.32%
Number of Units
8
Price/Unit
$231,250
Price/Gross SF
$232.06
Gross SF
7,972

Investment Highlights

  • Future Redevelopment Potential – 9,186 Square Feet Lot Size Zoned R4 Tier 2 TOC
  • The Property is Approximately 0.6 Miles to L.A. Live and Staples Center
  • Approximately 31 percent of remaining upside potential with unit turnover
  • ON SITE PARKING: Eight Parking Spaces with No Retrofit Required

Investment Overview

Marcus and Millichap, as the exclusive listing agent is pleased to offer for sale an eight unit apartment community located at 1513 West 11th Place. The subject property offers investors the opportunity to acquire a property with stable operating history that is located less than one mile from the Staples Center, L.A. Live and numerous retail opportunities. Consisting of one two-story building, the property is situated on a 9,186 square foot parcel. The property features eight large units with secured parking for every unit and is individually metered for all utilities. Due to its 1910 construction, the property is subject to the Los Angeles Housing Department's Rent Stabilization Ordinance. 1513 West 11th Place is located just south of Olympic Boulevard and east of Union Avenue. An investor will be able to increase the lease rates when units become vacant by capitalizing on the westward expansion and revitalization of the Downtown sub-market .

Exclusively Listed By

MM Texture Background
MM Textured Background Lower