Multifamily

1134 W 22nd St

1134 W 22nd St, Los Angeles, CA 90731

Listing Price: $3,100,000

Cap Rate
3.43%
Number of Units
12
Price/Unit
$258,333
Price/Gross SF
$277.78
Gross SF
11,160

Investment Overview

Marcus & Millichap is pleased to present to market 1134 West 22nd Street, a 12-unit apartment building in San Pedro, California located just steps from Leland Elementary School. This offering presents an excellent opportunity to renovate and reposition an asset with a desirable unit mix in a redeveloping coastal market and capture over 45 percent rental upside. The asset is a 1972 construction with seven two-bedroom/one-bath and five one-bedroom/one-bath units that are separately metered for gas and electricity. The property has copper plumbing and also offers on-site laundry, 20 parking spaces, and balconies for 11 of the 12 units. Substantial recent improvements include $24,000 spent on extensive roof work with top-of-the-line elastomeric roof coating on the entire roof and $9,000 spent on a new garage gate opener and equipment upgrades. Furthermore, the building has been inspected and determined to be exempt from the city’s soft retrofit requirement (buyer to verify).

Investment Highlights

  • $33,000 in Recent Upgrades That Include Extensive Roof Work and New Garage Gate Opener and Equipment Upgrades
  • Well-Located Steps to Leland Street Elementary School
  • Value-Add Opportunity With Over 45 Percent Rental Upside
  • Desirable Mix of Seven Two-Bedroom and Five One-Bedroom Units
  • Property Features Balconies, Shared Laundry, and Ample On-Site Parking

Exclusively Listed By

Listing Price: $3,100,000

Cap Rate
3.43%
Number of Units
12
Price/Unit
$258,333
Price/Gross SF
$277.78
Gross SF
11,160

Investment Highlights

  • $33,000 in Recent Upgrades That Include Extensive Roof Work and New Garage Gate Opener and Equipment Upgrades
  • Well-Located Steps to Leland Street Elementary School
  • Value-Add Opportunity With Over 45 Percent Rental Upside
  • Desirable Mix of Seven Two-Bedroom and Five One-Bedroom Units
  • Property Features Balconies, Shared Laundry, and Ample On-Site Parking

Investment Overview

Marcus & Millichap is pleased to present to market 1134 West 22nd Street, a 12-unit apartment building in San Pedro, California located just steps from Leland Elementary School. This offering presents an excellent opportunity to renovate and reposition an asset with a desirable unit mix in a redeveloping coastal market and capture over 45 percent rental upside. The asset is a 1972 construction with seven two-bedroom/one-bath and five one-bedroom/one-bath units that are separately metered for gas and electricity. The property has copper plumbing and also offers on-site laundry, 20 parking spaces, and balconies for 11 of the 12 units. Substantial recent improvements include $24,000 spent on extensive roof work with top-of-the-line elastomeric roof coating on the entire roof and $9,000 spent on a new garage gate opener and equipment upgrades. Furthermore, the building has been inspected and determined to be exempt from the city’s soft retrofit requirement (buyer to verify).

Exclusively Listed By

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