Multifamily

1506 S Wilton Pl

1506 S Wilton Pl, Los Angeles, CA 90019

Listing Price: $3,600,000

Cap Rate
3.72%
Number of Units
12
Price/Unit
$300,000
Price/Gross SF
$341.69
Gross SF
10,536

Investment Overview

Marcus & Millichap is pleased to present to market 1506 South Wilton Place, a partially renovated 12-unit apartment building in Los Angeles’ Arlington Heights neighborhood with 33 percent potential upside in rents. The building is a 1921 construction with a desirable mix of nine two-bed/one-bath and three one-bed/one-bath units that are separately metered for gas and electricity. Half of the units have been recently remodeled. The property also offers on-site laundry and eight surface parking spaces. 1506 South Wilton Place is located less than a mile north of the 10 Freeway, offering easy access to Downtown LA’s major employers and entertainment. The property is four blocks west of Western Avenue and Western Plaza Shopping Center (home to Food4Less, CVS, Panda Express, Wingstop, and more), and two blocks east of Pio Pico Middle School.This is a very dense rental area where over 84 percent of housing units within one mile are renter-occupied. Arlington Heights has begun to see an increase in development recently as the Koreatown boom spreads southwest. Two notable major developments projects in this neighborhood include the five-story, 28-unit building with streetfront commercial space and parking currently under construction at 3617 Venice Boulevard, less than a mile from the subject property, and The Arlington, a recently approved project that will see the rise of a four-story building with 84 apartments and 2,400 square feet of commercial space at 3300 Washington Boulevard, also less than a mile from the subject property.

Investment Highlights

  • Excellent Opportunity to Acquire an Asset in a Dense Rental Market With 50 Percent of Units Renovated and 33 Percent Rental Upside
  • Desirable Mix of Nine Two-Bedroom and Three One-Bedroom Units
  • Property Features On-Site Laundry and Parking
  • Located in the Arlington Heights Neighborhood Less Than a Mile From the 10 Freeway and Two Major Mixed-Use Development Projects That Will Bring 112 New Rental Units Online

Exclusively Listed By

Listing Price: $3,600,000

Cap Rate
3.72%
Number of Units
12
Price/Unit
$300,000
Price/Gross SF
$341.69
Gross SF
10,536

Investment Highlights

  • Excellent Opportunity to Acquire an Asset in a Dense Rental Market With 50 Percent of Units Renovated and 33 Percent Rental Upside
  • Desirable Mix of Nine Two-Bedroom and Three One-Bedroom Units
  • Property Features On-Site Laundry and Parking
  • Located in the Arlington Heights Neighborhood Less Than a Mile From the 10 Freeway and Two Major Mixed-Use Development Projects That Will Bring 112 New Rental Units Online

Investment Overview

Marcus & Millichap is pleased to present to market 1506 South Wilton Place, a partially renovated 12-unit apartment building in Los Angeles’ Arlington Heights neighborhood with 33 percent potential upside in rents. The building is a 1921 construction with a desirable mix of nine two-bed/one-bath and three one-bed/one-bath units that are separately metered for gas and electricity. Half of the units have been recently remodeled. The property also offers on-site laundry and eight surface parking spaces. 1506 South Wilton Place is located less than a mile north of the 10 Freeway, offering easy access to Downtown LA’s major employers and entertainment. The property is four blocks west of Western Avenue and Western Plaza Shopping Center (home to Food4Less, CVS, Panda Express, Wingstop, and more), and two blocks east of Pio Pico Middle School.This is a very dense rental area where over 84 percent of housing units within one mile are renter-occupied. Arlington Heights has begun to see an increase in development recently as the Koreatown boom spreads southwest. Two notable major developments projects in this neighborhood include the five-story, 28-unit building with streetfront commercial space and parking currently under construction at 3617 Venice Boulevard, less than a mile from the subject property, and The Arlington, a recently approved project that will see the rise of a four-story building with 84 apartments and 2,400 square feet of commercial space at 3300 Washington Boulevard, also less than a mile from the subject property.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower