Investment Overview

Marcus & Millichap is pleased to present 1010 S Bedford Street, a 12-unit multifamily investment offering approximately 23 percent rental upside, extensive completed capital improvements, and first-time availability in nearly 20 years in the highly sought-after Pico-Robertson neighborhood of West Los Angeles. Constructed in 1963, the property totals approximately 12,915 rentable square feet on a 7,405 square foot corner lot. The unit mix includes three one-bedroom, one-bath units and nine two-bedroom, two-bath units, with an average unit size of 1,076 square feet. The building features elevator service, underground gated parking, security entry, and on-site laundry, offering a rare amenity package for the submarket. All units are subject to Los Angeles City RSO and California rent cap. In-place rents are approximately 23 percent below full market potential, creating a clear value-add opportunity through natural tenant turnover and interior renovations. Current rents reflect long-term tenancy rather than functional obsolescence, and a new owner can capture meaningful income growth through standard upgrades including flooring, cabinetry, countertops, appliances, and fixtures without requiring major repositioning. From a capital and compliance standpoint, the property has been extensively maintained by the current ownership. Major improvements include full window replacement with dual-glazed NFRC-certified units (2020), exterior painting and fascia sealing (2024), water heater replacement (2023), roof recoating (2017), and comprehensive electrical and plumbing upgrades throughout the 2000s and 2010s. The building has been certified exempt from Division 93 soft-story retrofit requirements. These improvements materially reduce near-term capital exposure and support a clean acquisition profile for the incoming buyer. The property is offered at a basis below current replacement cost, providing downside protection and an attractive entry point for investors seeking exposure to one of the Westside's most stable rental markets.