Investment Overview

Marcus & Millichap is pleased to present an exceptional multifamily investment opportunity at 8520 Whitworth Dr, situated in the highly desirable Pico-Robertson neighborhood of Los Angeles. This prime location sits just west of S La Cienega Blvd, nestled between W Olympic Blvd and W Pico Blvd, a prestigious area renowned for attracting upscale renters due to its consistently low vacancy rates and steady growth in rent. Constructed with high quality in 2017, this modern property is exempt from the Los Angeles Rent Stabilization Ordinance, featuring a total square footage of 9,993 with seven spacious two-bedroom units, each ranging from 1,100 to 1,200 SF. The building boasts a well-designed parking arrangement, including one subterranean level and one ground floor level, accommodating a total of 14 parking spaces. The units offer a luxurious condominium feel, complete with large patios or balconies, in-unit laundry facilities, fireplaces, recessed lighting, custom cabinetry, and premium quality kitchens and bathrooms. Furthermore, units on the top floor are distinguished by their vaulted ceilings, adding an extra layer of elegance and space. Currently, the property is fully leased, demonstrating strong in-place income. Additionally, there is a potential for an 18% rental increase over time as units turn, presenting a valuable upside to investors. The neighborhood's significant affordability gap between renting and homeownership further enhances the investment's attractiveness. With median home values exceeding $1 million and an average household income of $124,520 within a two-mile radius, the demand for high-quality rental units is expected to remain robust. Located in the heart of Pico-Robertson, the property is highly walkable with a walk score of 86, offering easy access to a plethora of amenities, including high-end retail options along S La Cienega, W Pico, and W Olympic Blvd. This investment opportunity leverages both the strength of the local real estate market and the exceptional living standards of the Pico-Robertson area, making it an attractive proposition for discerning investors seeking growth and stability in the Los Angeles housing market.