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Multifamily

540 W 49th St

540 W 49th St, Los Angeles, CA 90037

Listing Price: $1,495,000

Cap Rate
5.64%
Number of Units
10
GRM
11.44
Occupancy
90.0%
Price/Unit
$149,500

Investment Overview

Marcus and Millichap is pleased to present a two (2) property portfolio totaling nineteen (19) units located at 540 and 533 West 49th Street in Los Angeles, California. The subject property is positioned in a solid South Los Angeles location, south of W Vermont Avenue, west of S Figueroa Street.

South LA is a large region of Los Angeles made up of the neighborhoods south of Downtown L.A. This area is multi-culturally and economically diverse and offers residents a dense suburban feel in a historic market of Los Angeles. Residents can take advantage of the area’s many food and entertainment spaces within walking distance of the subject properties. The more noteworthy news for the area is the great revitalization plan for South L.A. For the first time in decades, major development projects are underway in South L.A. Most prominently, an incredible state of the art NFL stadium just opened in Inglewood-- and it will be surrounded by a planned community made up of thousands of new homes. But the development wave doesn’t stop there. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from West Adams to Watts. The county and Metro are teaming up to find a developer to build 492 residential units, a grocery store, theater, and locally-owned restaurants located at 3606 West Exposition Boulevard. The Lucas Museum of Narrative Art, South L.A. Wetlands Park, Hollywood Park, Clipper’s Arena, and Magic Johnson Park are some more examples of developments currently underway.

Built in 1929, 540 West 49th Street includes a streamlined unit mix of ten (10) one-bedroom / one-bathroom units. This rare, bungalow-style asset features a large center courtyard with easily maintained landscaping. This property offers great local amenities nearby including Exposition Park, The Coliseum, BMO Stadium, and The Natural History Museum. Along with these wonderful amenities South LA is one of the highest submarkets for annual rent growth according to CoStar. The property is also located in a position with very easy access to the -110, and -10 freeways offering great transportation options to several major employment hubs.

Built in 1926, 533 West 49th Street includes a favorable unit mix of eight (8) one-bedroom / one-bathroom units, and one (1) two-bedroom / one-bathroom unit. Similar to 540 West 49th Street this property is also a rare, bungalow-style asset that features a large center courtyard with easily maintained landscaping. The units are spread across three (3) separate buildings giving tenants a quiet and private location. The property also includes ample street parking for tenants.

Situated in a solid South LA location, this offering presents an excellent opportunity for any investor to capitalize on attractive assumable loans to acquire up to two (2) properties right across the street from each other.

Investment Highlights

  • Two (2) Property Portfolio that May be Bought Together or Separately
  • Two (2) Property Portfolio that May be Bought Together or Separately
  • Rare, Bungalow Style Assets
  • Assumable Loans at an Attractive 4.40% Interest Rate & 5-Years Remaining
  • $250k Worth of Recent Capital Improvements at 540 W 49th St - New Roofs, New Electrical, & New Plumbing
  • Located in a Submarket With One of the Highest Annual Rent Growth Rates Per CoStar
  • Units are Spread Across Three (3) Separate Buildings, Offering a Quiet and Peaceful Location for Tenants
  • Easily Maintained Landscaping

Exclusively Listed By

Financing By

Multifamily

540 W 49th St

Listing Price: $1,495,000

Cap Rate
5.64%
Number of Units
10
GRM
11.44
Occupancy
90.0%
Price/Unit
$149,500

Investment Highlights

  • Two (2) Property Portfolio that May be Bought Together or Separately
  • Two (2) Property Portfolio that May be Bought Together or Separately
  • Rare, Bungalow Style Assets
  • Assumable Loans at an Attractive 4.40% Interest Rate & 5-Years Remaining
  • $250k Worth of Recent Capital Improvements at 540 W 49th St - New Roofs, New Electrical, & New Plumbing
  • Located in a Submarket With One of the Highest Annual Rent Growth Rates Per CoStar
  • Units are Spread Across Three (3) Separate Buildings, Offering a Quiet and Peaceful Location for Tenants
  • Easily Maintained Landscaping

Investment Overview

Marcus and Millichap is pleased to present a two (2) property portfolio totaling nineteen (19) units located at 540 and 533 West 49th Street in Los Angeles, California. The subject property is positioned in a solid South Los Angeles location, south of W Vermont Avenue, west of S Figueroa Street. South LA is a large region of Los Angeles made up of the neighborhoods south of Downtown L.A. This area is multi-culturally and economically diverse and offers residents a dense suburban feel in a historic market of Los Angeles. Residents can take advantage of the area’s many food and entertainment spaces within walking distance of the subject properties. The more noteworthy news for the area is the great revitalization plan for South L.A. For the first time in decades, major development projects are underway in South L.A. Most prominently, an incredible state of the art NFL stadium just opened in Inglewood-- and it will be surrounded by a planned community made up of thousands of new homes. But the development wave doesn’t stop there. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from West Adams to Watts. The county and Metro are teaming up to find a developer to build 492 residential units, a grocery store, theater, and locally-owned restaurants located at 3606 West Exposition Boulevard. The Lucas Museum of Narrative Art, South L.A. Wetlands Park, Hollywood Park, Clipper’s Arena, and Magic Johnson Park are some more examples of developments currently underway. Built in 1929, 540 West 49th Street includes a streamlined unit mix of ten (10) one-bedroom / one-bathroom units. This rare, bungalow-style asset features a large center courtyard with easily maintained landscaping. This property offers great local amenities nearby including Exposition Park, The Coliseum, BMO Stadium, and The Natural History Museum. Along with these wonderful amenities South LA is one of the highest submarkets for annual rent growth according to CoStar. The property is also located in a position with very easy access to the -110, and -10 freeways offering great transportation options to several major employment hubs. Built in 1926, 533 West 49th Street includes a favorable unit mix of eight (8) one-bedroom / one-bathroom units, and one (1) two-bedroom / one-bathroom unit. Similar to 540 West 49th Street this property is also a rare, bungalow-style asset that features a large center courtyard with easily maintained landscaping. The units are spread across three (3) separate buildings giving tenants a quiet and private location. The property also includes ample street parking for tenants. Situated in a solid South LA location, this offering presents an excellent opportunity for any investor to capitalize on attractive assumable loans to acquire up to two (2) properties right across the street from each other.

Exclusively Listed By

Financing By

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