1663 West 11th Place, Los Angeles, CA 90015
Marcus & Millichap, the exclusive listing agent, is pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 4.27 percent Cap Rate and 13.22 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. The subject property is located in the Westlake South neighborhood which is one of the fastest growing pockets of Los Angeles between Downtown and Koreatown. The property’s transit-oriented and highly walkable location offers residents access to the top job centers in Los Angeles, an emerging dining and nightlife scene, and plentiful recreational and cultural amenities. Excessive costs of home ownership and high barriers to entry for new rental developments continue to fuel strong submarket fundamentals. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining.
Marcus & Millichap, the exclusive listing agent, is pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 4.27 percent Cap Rate and 13.22 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. The subject property is located in the Westlake South neighborhood which is one of the fastest growing pockets of Los Angeles between Downtown and Koreatown. The property’s transit-oriented and highly walkable location offers residents access to the top job centers in Los Angeles, an emerging dining and nightlife scene, and plentiful recreational and cultural amenities. Excessive costs of home ownership and high barriers to entry for new rental developments continue to fuel strong submarket fundamentals. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining.
