Investment Overview

Marcus and Millichap is pleased to present a triplex located at 1157 East 20th Street in Los Angeles, California. The subject property is situated in a great South-Central Los Angeles location, east of S Central Ave and south of E Washington Boulevard. 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, and Magic Johnson Park are some more examples of developments currently underway. The offering is a 4 bed/2 bath house with two units in the back. The rooms in the house were master-leased years ago and there are evictions proceeding on 3 of the 5 subtenants. The two units in the back are both 1-bedroom units averaging almost $1,700 per month. There is tremendous upside potential in re-renting the front house to a market rate tenant. Also, this offering is part of a double-lot sale with the neighboring parcel. These can be sold together or separately. Together, these lots would allow an ED1 developer to build up to 80 units on the site. Situated in a great South-Central Los Angeles location, this offering presents an excellent opportunity for any multifamily investor (or developer) to acquire a bite-sized deal in a market that is growing rapidly and has tremendous opportunity for upside.