Multifamily
604 E 85th St
604 E 85th St, Los Angeles, CA 90001
Listing Price: $940,000
Investment Overview
Marcus & Millichap is pleased to present to market 604 East 85th Street, a five-unit apartment building in South Los Angeles. This offering is a true value-add opportunity: current rents are half of market rate, and a new investor may want to explore the possibility to convert the garages to an ADU.
604 East 85th Street is a 1960 construction on a corner lot with two two-bed/one-bath units and three one-bed/one-bath units, one of which is non-conforming. The units are separately metered for gas and electricity and feature renovated bathrooms and brand new windows. The property also offers two single-car garages with tandem driveway parking and three additional surface spaces. The building does not currently offer laundry facilities, however there is space to add a laundry room.
The property is located east of the 110 Freeway just north of Manchester Avenue and directly across from South Park Elementary School.
604 E 85th St
Investment Highlights
- Huge value-add opportunity with over 100% rental upside
- Five-unit apartment building with two two-bed/one-bath units and three one-bed/one-bath units, one of which is non-conforming
- Potential to convert garages to an ADU and add a laundry room (buyer to verify)
- Recent improvements include renovated bathrooms, new windows, and $50K in roof maintenance
- Great rental location in South LA directly across from South Park Elementary School
Listing Price: $940,000
Investment Highlights
- Huge value-add opportunity with over 100% rental upside
- Five-unit apartment building with two two-bed/one-bath units and three one-bed/one-bath units, one of which is non-conforming
- Potential to convert garages to an ADU and add a laundry room (buyer to verify)
- Recent improvements include renovated bathrooms, new windows, and $50K in roof maintenance
- Great rental location in South LA directly across from South Park Elementary School
Investment Overview
Marcus & Millichap is pleased to present to market 604 East 85th Street, a five-unit apartment building in South Los Angeles. This offering is a true value-add opportunity: current rents are half of market rate, and a new investor may want to explore the possibility to convert the garages to an ADU. 604 East 85th Street is a 1960 construction on a corner lot with two two-bed/one-bath units and three one-bed/one-bath units, one of which is non-conforming. The units are separately metered for gas and electricity and feature renovated bathrooms and brand new windows. The property also offers two single-car garages with tandem driveway parking and three additional surface spaces. The building does not currently offer laundry facilities, however there is space to add a laundry room. The property is located east of the 110 Freeway just north of Manchester Avenue and directly across from South Park Elementary School.
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