Multifamily

4500 Santa Rosalia Dr

4500 Santa Rosalia Dr, Los Angeles, CA 90008

Listing Price: $5,300,000

Cap Rate
3.49%
Number of Units
23
Price/Unit
$230,435
Price/Gross SF
$222.79
Gross SF
23,789

Investment Overview

Marcus & Millichap is pleased to present to market 4500 Santa Rosalia Drive, a well-maintained 23-unit asset in Los Angeles’ Baldwin Village neighborhood. This area has become increasingly popular to those priced out of nearby Westside markets such as Venice and Santa Monica, so much so that this area made the top 10 of Curbed LA’s recent list of, “Where LA Home Prices Increased the Most,” with a 118 percent increase in median sale price between 2010 and 2019. The subject property is well-located in this neighborhood across the street from Hillcrest Elementary School. With a total building size of nearly 24,000 square feet, this 1956 construction offers spacious floorplans and a desirable mix of 11 one-bed/one-bath units, eight two-bed/one-bath units, and four two-bed/one-and-one-half-bath units. Building amenities include private balconies, on-site laundry, and parking, and a new investor could further amenitize the property by better utilizing the large shared courtyard by offering built-in barbecues and patio furniture. 4500 Santa Rosalia boasts numerous substantial recent improvements that include a complete seismic retrofit, all copper plumbing, new vinyl dual-glazed windows, and tankless water heaters. Additionally, the roof is just eight years old. This offering presents an excellent opportunity for an investor to acquire a well-maintained asset in an increasingly popular submarket and capture over 50 percent rental upside.

Investment Highlights

  • Well-Maintained Asset With Major Rental Upside
  • 1956 Construction With 11 One-Bed and 12 Two-Bed Units
  • Property Offers On-Site Laundry, Parking, and Private Balconies
  • Well-Located in the Increasingly Popular Baldwin Village Neighborhood Directly Across From Hillcrest Elementary
  • Recent Improvements: Completed Seismic Retrofit, New Vinyl Dual-Glazed Windows, All Copper Plumbing, Tankless Water Heaters

Exclusively Listed By

Listing Price: $5,300,000

Cap Rate
3.49%
Number of Units
23
Price/Unit
$230,435
Price/Gross SF
$222.79
Gross SF
23,789

Investment Highlights

  • Well-Maintained Asset With Major Rental Upside
  • 1956 Construction With 11 One-Bed and 12 Two-Bed Units
  • Property Offers On-Site Laundry, Parking, and Private Balconies
  • Well-Located in the Increasingly Popular Baldwin Village Neighborhood Directly Across From Hillcrest Elementary
  • Recent Improvements: Completed Seismic Retrofit, New Vinyl Dual-Glazed Windows, All Copper Plumbing, Tankless Water Heaters

Investment Overview

Marcus & Millichap is pleased to present to market 4500 Santa Rosalia Drive, a well-maintained 23-unit asset in Los Angeles’ Baldwin Village neighborhood. This area has become increasingly popular to those priced out of nearby Westside markets such as Venice and Santa Monica, so much so that this area made the top 10 of Curbed LA’s recent list of, “Where LA Home Prices Increased the Most,” with a 118 percent increase in median sale price between 2010 and 2019. The subject property is well-located in this neighborhood across the street from Hillcrest Elementary School. With a total building size of nearly 24,000 square feet, this 1956 construction offers spacious floorplans and a desirable mix of 11 one-bed/one-bath units, eight two-bed/one-bath units, and four two-bed/one-and-one-half-bath units. Building amenities include private balconies, on-site laundry, and parking, and a new investor could further amenitize the property by better utilizing the large shared courtyard by offering built-in barbecues and patio furniture. 4500 Santa Rosalia boasts numerous substantial recent improvements that include a complete seismic retrofit, all copper plumbing, new vinyl dual-glazed windows, and tankless water heaters. Additionally, the roof is just eight years old. This offering presents an excellent opportunity for an investor to acquire a well-maintained asset in an increasingly popular submarket and capture over 50 percent rental upside.

Exclusively Listed By

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