Multifamily
2769 San Marino Street
2769 San Marino Street, Los Angeles, CA 90006
Listing Price: $2,050,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 2769 San Marino Street, an eight-unit apartment community bordering the Koreatown neighborhood of Los Angeles, just east of Vermont Avenue and north of Olympic Boulevard.
Built in 1987, the property rises two stories over ground-level parking and comprises 6,080 square feet on a 6,750-square-foot lot. All eight residences are two-bedroom, one-bathroom floor plans, a uniform configuration that simplifies renovation, leasing, and ongoing management. Residents are served by 15 parking spaces and on-site laundry.
By virtue of its 1987 construction, the property is not subject to the Los Angeles Rent Stabilization Ordinance; rents are instead governed by AB 1482, which permits annual increases of 5 percent plus CPI, up to a maximum of 10 percent. Approximately 28 percent rental upside remains, available to a new owner through ordinary turnover and interior renovation rather than through a repositioning of the asset.
The immediate area is highly walkable and well served by transit. The property carries a Walk Score of 94, and the Wilshire/Vermont Station, served by the Metro B and D Lines, sits a short walk to the north, with several Metro bus lines and the DASH Wilshire Center/Koreatown circulator running within a few blocks. The Wilshire corridor’s office base, Southwestern Law School, and Koreatown’s restaurants and retail immediately to the west anchor a deep tenant pool, one that continues to draw households priced out of the surrounding submarkets.
For a buyer underwriting durable in-place income alongside a defined path to market rents, 2769 San Marino Street offers a straightforward execution in a long-established rental submarket.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
2769 San Marino Street
Investment Highlights
- Built in 1987, the property is exempt from LA's RSO and governed by AB 1482, allowing annual increases of 5% + CPI, capped at 10%.
- 28% rental upside remains, capturable through ordinary turnover and interior renovation rather than a full repositioning of the asset.
- All eight units are 2BR/1BA. A single floor plan streamlines a renovation program and appeals to a broad tenant base.
- The property provides 15 parking spaces, nine covered and six open, and a laundry facility.
- A Walk Score of 94 reflects the short walk to Wilshire/Vermont Station on the Metro B and D Lines, plus nearby Metro bus and DASH service.
- The property has been under the same ownership since 2004, a hold of more than 20 years now coming to market.
Exclusively Listed By
Financing By
Listing Price: $2,050,000
Investment Highlights
- Built in 1987, the property is exempt from LA's RSO and governed by AB 1482, allowing annual increases of 5% + CPI, capped at 10%.
- 28% rental upside remains, capturable through ordinary turnover and interior renovation rather than a full repositioning of the asset.
- All eight units are 2BR/1BA. A single floor plan streamlines a renovation program and appeals to a broad tenant base.
- The property provides 15 parking spaces, nine covered and six open, and a laundry facility.
- A Walk Score of 94 reflects the short walk to Wilshire/Vermont Station on the Metro B and D Lines, plus nearby Metro bus and DASH service.
- The property has been under the same ownership since 2004, a hold of more than 20 years now coming to market.
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 2769 San Marino Street, an eight-unit apartment community bordering the Koreatown neighborhood of Los Angeles, just east of Vermont Avenue and north of Olympic Boulevard. Built in 1987, the property rises two stories over ground-level parking and comprises 6,080 square feet on a 6,750-square-foot lot. All eight residences are two-bedroom, one-bathroom floor plans, a uniform configuration that simplifies renovation, leasing, and ongoing management. Residents are served by 15 parking spaces and on-site laundry. By virtue of its 1987 construction, the property is not subject to the Los Angeles Rent Stabilization Ordinance; rents are instead governed by AB 1482, which permits annual increases of 5 percent plus CPI, up to a maximum of 10 percent. Approximately 28 percent rental upside remains, available to a new owner through ordinary turnover and interior renovation rather than through a repositioning of the asset. The immediate area is highly walkable and well served by transit. The property carries a Walk Score of 94, and the Wilshire/Vermont Station, served by the Metro B and D Lines, sits a short walk to the north, with several Metro bus lines and the DASH Wilshire Center/Koreatown circulator running within a few blocks. The Wilshire corridor’s office base, Southwestern Law School, and Koreatown’s restaurants and retail immediately to the west anchor a deep tenant pool, one that continues to draw households priced out of the surrounding submarkets. For a buyer underwriting durable in-place income alongside a defined path to market rents, 2769 San Marino Street offers a straightforward execution in a long-established rental submarket. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Exclusively Listed By
Financing By
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