Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Casa de Coco, a 37-unit multifamily community located in the Baldwin Village submarket of Los Angeles, CA. Casa de Coco is comprised of one two-story building totaling 34,576 gross square feet situated on .80-acre of land zoned LAR3. The asset features a pool, peaceful central courtyard for tenants to lounge, on-site laundry, gated access and gated covered parking. The property is comprised of a diverse unit mix consisting of predominantly one-bedroom units (twenty-two (22) 1’s, six (6) 2+1’s, six (6) 2+2’s and three (3) 3+2’s), averaging 736 square feet per unit. This offering presents the opportunity to acquire an asset in a dense infill submarket of Los Angeles with significant immediate upside as the seller has already invested significant capital – approximately $861,000 to upgrade the interior and exterior of the property. There are currently 15 vacant rent-ready units awaiting lease-up, a new investor need only lease the available inventory converting the existing vacancies to income – representing over $30,000 dollars in monthly income. Moreover, the property is soon to be surrounded by a diverse array of developments that will impact the entire Baldwin Village submarket in a dynamic way. Most notably the $1 billion Costo Anchored development — 800 apartments above a ground-floor Costco, the first project of its kind in the United States — is just .5 miles from the subject property. Paired with approximately $2.83B of committed capital from the private and public sectors across nine additional development projects within a two-mile radius; Casa de Coco is poised to benefit from game-changing local fundamentals.