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Multifamily

6318-6328 S. Harvard Boulevard

6318 Harvard Blvd, Los Angeles, CA 90047

Listing Price: $1,200,000

Cap Rate
5.60%
Number of Units
6
GRM
11.39
Price/Unit
$200,000
Price/Gross SF
$311.36
Gross SF
3,854

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a six-unit apartment community located at 6318-6328 South Harvard Boulevard. The subject property is located south of Slauson Avenue and east of Western Avenue within the South LA submarket.

The two buildings are located in the heart of Canterbury Knolls SoLA adjacent to Hyde Park. This location offers easy access to the best of South LA, including the USC/ North University Park, the LA Coliseum, Sofi Stadium, Intuit Dome & more. Being in close proximity to major transit corridors, tenants can conveniently access employment centers, retail & entertainment throughout the city.

Situated on a 5,443 square foot parcel, the property is comprised entirely of one-bedroom units. There are two separate buildings, a duplex & a quadplex with separate entrances for each unit. There is a courtyard located between the two buildings, which has potential to be used recreational/tenant common area space. The property has 49% remaining rental upside through unit renovations. There are 4 garage spaces below the duplex. New ownership can add an attached Accessory Dwelling Unit (ADU) in place of two of the garage spaces in order to maximize growth & rental income - buyer to verify. This would leave 2 remaining garage spaces, which new ownership can rent in order to further increase income. New ownership can potentially convert one-bedroom units to two-bedroom units – buyer to verify feasibility.

6318-6328 South Harvard Boulevard presents investors with a unique opportunity to acquire an asset in a South Los Angeles location with a residential feel that is a short distance to the most attractive thoroughfare in the submarket, which will support continued rental growth for a new investor who is looking to capitalize on the value-add potential this asset offers.

Investment Highlights

  • Long Term Ownership, Family Owned and Operated. Has not been on Market in Over 20 Years
  • New Ownership has Potential to Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciation Potential – Buyer to Verify
  • Two Units may Potentially be Delivered Vacant, Allowing New Ownership to Renovate & Re-tenant at Market Rental Rates. There are also 4 Vacant Garage Spaces that can be Rented for Additional Income
  • Operating at a Current 5.60% Cap Rate with Additional Upside
  • Located in a Dense Pocket in South Los Angeles. Just a Quick Drive from Iconic Landmarks such as the LA Coliseum, the University of Southern California, and SoFi Stadium
  • Residents have Easy Access to a Plethora of Entertainment Options, Bars, Fitness Centers, as well as both Professional and Collegiate Sporting Events
  • There is 49 Percent Remaining Rental Upside Through Interior Renovations
  • Located on a Quite Street that is Surrounded by Majority Residential Properties

Exclusively Listed By

Financing By

Multifamily

6318-6328 S. Harvard Boulevard

Listing Price: $1,200,000

Cap Rate
5.60%
Number of Units
6
GRM
11.39
Price/Unit
$200,000
Price/Gross SF
$311.36
Gross SF
3,854

Investment Highlights

  • Long Term Ownership, Family Owned and Operated. Has not been on Market in Over 20 Years
  • New Ownership has Potential to Add an Accessory Dwelling Unit (ADU) to the Property Allowing for Added Future Growth and Appreciation Potential – Buyer to Verify
  • Two Units may Potentially be Delivered Vacant, Allowing New Ownership to Renovate & Re-tenant at Market Rental Rates. There are also 4 Vacant Garage Spaces that can be Rented for Additional Income
  • Operating at a Current 5.60% Cap Rate with Additional Upside
  • Located in a Dense Pocket in South Los Angeles. Just a Quick Drive from Iconic Landmarks such as the LA Coliseum, the University of Southern California, and SoFi Stadium
  • Residents have Easy Access to a Plethora of Entertainment Options, Bars, Fitness Centers, as well as both Professional and Collegiate Sporting Events
  • There is 49 Percent Remaining Rental Upside Through Interior Renovations
  • Located on a Quite Street that is Surrounded by Majority Residential Properties

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a six-unit apartment community located at 6318-6328 South Harvard Boulevard. The subject property is located south of Slauson Avenue and east of Western Avenue within the South LA submarket. The two buildings are located in the heart of Canterbury Knolls SoLA adjacent to Hyde Park. This location offers easy access to the best of South LA, including the USC/ North University Park, the LA Coliseum, Sofi Stadium, Intuit Dome & more. Being in close proximity to major transit corridors, tenants can conveniently access employment centers, retail & entertainment throughout the city. Situated on a 5,443 square foot parcel, the property is comprised entirely of one-bedroom units. There are two separate buildings, a duplex & a quadplex with separate entrances for each unit. There is a courtyard located between the two buildings, which has potential to be used recreational/tenant common area space. The property has 49% remaining rental upside through unit renovations. There are 4 garage spaces below the duplex. New ownership can add an attached Accessory Dwelling Unit (ADU) in place of two of the garage spaces in order to maximize growth & rental income - buyer to verify. This would leave 2 remaining garage spaces, which new ownership can rent in order to further increase income. New ownership can potentially convert one-bedroom units to two-bedroom units – buyer to verify feasibility. 6318-6328 South Harvard Boulevard presents investors with a unique opportunity to acquire an asset in a South Los Angeles location with a residential feel that is a short distance to the most attractive thoroughfare in the submarket, which will support continued rental growth for a new investor who is looking to capitalize on the value-add potential this asset offers.

Exclusively Listed By

Financing By

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