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Multifamily

Council.4651

4651 Council St, Los Angeles, CA 90004

Listing Price: $2,785,000

Cap Rate
5.16%
Number of Units
7
GRM
12.86
Price/Unit
$397,857
Price/Gross SF
$374.13
Gross SF
7,444

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present a seven-unit investment opportunity in Koreatown at 4651 Council St, a corner lot just south of Beverly Blvd

The property features an ideal unit mix of two one-bedrooms and five two-bedrooms with 10 parking spaces; the soft story retrofit work has been completed

Ownership has completed full renovations of five units with upgrades including in-unit washers & dryers, vinyl plank flooring, stainless steel appliances, new kitchen cabinets and tile backsplashes, new plumbing fixtures and improvements, new drywall, paint, and base moldings, and energy efficient LED lighting, among others

In addition to interior unit renovations, ownership has recently completed exterior and common area capital expenditures including LED lighting, house panel and subpanel upgrades, new door numbers, new landscaping, and new paint throughout the common areas

Opportunity to acquire an asset with little to no deferred maintenance and strong in-place cash flow at a 5.12% CAP rate and 12.93 GRM on current income with an additional 20% rental upside

High Walk Score of 93, less than one mile from the Metro D Purple Line and walking distance to multiple Metro bus line stops along Beverly Blvd and S Western Ave

Central location makes it convenient for residents to commute throughout the city to nearby neighborhoods such as Larchmont, Hancock Park, Hollywood, Los Feliz, Westlake, and Downtown Los Angeles

Koreatown is one of the densest neighborhoods in Los Angeles, with about 120,000 people. With an estimated $1 billion invested in the development of Koreatown since the early 2000s and various development projects taking place, Koreatown remains one of the highly coveted submarkets in all of Los Angeles

Investment Highlights

  • 7-Units in Koreatown
  • Ideal Mix of One and Two Bedroom Units with 10 Parking Spaces
  • Full Renovations of Five Units with Upgrades Including In-Unit Washers/Dryers, Vinyl Plank Flooring, Stainless Steel Appliances, New Kitchen Cabinets, etc.

Exclusively Listed By

Financing By

Multifamily

Council.4651

Listing Price: $2,785,000

Cap Rate
5.16%
Number of Units
7
GRM
12.86
Price/Unit
$397,857
Price/Gross SF
$374.13
Gross SF
7,444

Investment Highlights

  • 7-Units in Koreatown
  • Ideal Mix of One and Two Bedroom Units with 10 Parking Spaces
  • Full Renovations of Five Units with Upgrades Including In-Unit Washers/Dryers, Vinyl Plank Flooring, Stainless Steel Appliances, New Kitchen Cabinets, etc.

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present a seven-unit investment opportunity in Koreatown at 4651 Council St, a corner lot just south of Beverly Blvd The property features an ideal unit mix of two one-bedrooms and five two-bedrooms with 10 parking spaces; the soft story retrofit work has been completed Ownership has completed full renovations of five units with upgrades including in-unit washers & dryers, vinyl plank flooring, stainless steel appliances, new kitchen cabinets and tile backsplashes, new plumbing fixtures and improvements, new drywall, paint, and base moldings, and energy efficient LED lighting, among others In addition to interior unit renovations, ownership has recently completed exterior and common area capital expenditures including LED lighting, house panel and subpanel upgrades, new door numbers, new landscaping, and new paint throughout the common areas Opportunity to acquire an asset with little to no deferred maintenance and strong in-place cash flow at a 5.12% CAP rate and 12.93 GRM on current income with an additional 20% rental upside High Walk Score of 93, less than one mile from the Metro D Purple Line and walking distance to multiple Metro bus line stops along Beverly Blvd and S Western Ave Central location makes it convenient for residents to commute throughout the city to nearby neighborhoods such as Larchmont, Hancock Park, Hollywood, Los Feliz, Westlake, and Downtown Los Angeles Koreatown is one of the densest neighborhoods in Los Angeles, with about 120,000 people. With an estimated $1 billion invested in the development of Koreatown since the early 2000s and various development projects taking place, Koreatown remains one of the highly coveted submarkets in all of Los Angeles

Exclusively Listed By

Financing By

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