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Multifamily

1409 Arlington Avenue

1409 Arlington Ave, Los Angeles, CA 90019

Listing Price: $1,600,000

Cap Rate
4.02%
Number of Units
9
GRM
12.70
Price/Unit
$177,778
Price/Gross SF
$276.00
Gross SF
5,797

Investment Overview

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 9-unit apartment community located at 1409 Arlington Avenue. The subject property is located south of Pico Boulevard and east of Crenshaw Avenue. This property is being sold as part of a 5 building, 79-unit portfolio that is available individually or any combination as a portfolio purchase.

The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.

Situated on a 6,828 square foot parcel, the property is comprised of two studio units, five one-bedroom units, and two two-bedroom units. The property has 65% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities.

1409 Arlington Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1409 Arlington Avenue an excellent acquisition opportunity.

Investment Highlights

  • There is 65 Percent Remaining Rental Upside Through Interior Renovations
  • Mid-City is Becoming a Compelling Value-Proposition for Tenants who are Getting Priced out of These Expensive Neighboring Submarkets
  • The Government Required Seismic Retrofit Work has Already Been Completed, Which Saves a New Investor Substantially in Capital and Time
  • In Close Proximity to World-Class Shopping, Vibrant Restaurants, Museums, Cafes, Bars, Theaters, Grocery Stores, Gyms & Employment Opportunities
  • Long Term Ownership - Property Has Been Owned for 45 Years, Offering a Rare Acquisition Opportunity
  • The Property is Being Offered at an Attractive Basis of $177,778 Per Unit

Exclusively Listed By

Financing By

Multifamily

1409 Arlington Avenue

Listing Price: $1,600,000

Cap Rate
4.02%
Number of Units
9
GRM
12.70
Price/Unit
$177,778
Price/Gross SF
$276.00
Gross SF
5,797

Investment Highlights

  • There is 65 Percent Remaining Rental Upside Through Interior Renovations
  • Mid-City is Becoming a Compelling Value-Proposition for Tenants who are Getting Priced out of These Expensive Neighboring Submarkets
  • The Government Required Seismic Retrofit Work has Already Been Completed, Which Saves a New Investor Substantially in Capital and Time
  • In Close Proximity to World-Class Shopping, Vibrant Restaurants, Museums, Cafes, Bars, Theaters, Grocery Stores, Gyms & Employment Opportunities
  • Long Term Ownership - Property Has Been Owned for 45 Years, Offering a Rare Acquisition Opportunity
  • The Property is Being Offered at an Attractive Basis of $177,778 Per Unit

Investment Overview

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 9-unit apartment community located at 1409 Arlington Avenue. The subject property is located south of Pico Boulevard and east of Crenshaw Avenue. This property is being sold as part of a 5 building, 79-unit portfolio that is available individually or any combination as a portfolio purchase. The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area. Situated on a 6,828 square foot parcel, the property is comprised of two studio units, five one-bedroom units, and two two-bedroom units. The property has 65% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities. 1409 Arlington Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1409 Arlington Avenue an excellent acquisition opportunity.

Exclusively Listed By

Financing By

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