Multifamily

6332 Brynhurst Avenue

6332 Brynhurst Avenue, Los Angeles, CA 90043

Listing Price: $3,750,000

Cap Rate
5.24%
Number of Units
12
Price/Unit
$312,500
Price/Gross SF
$302.54
Gross SF
12,395

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 6332 Brynhurst Avenue, a 12- unit apartment community that was built in 2013. The property is located in Hyde Park, just west of Crenshaw Boulevard and North of Hyde Park Boulevard. The offering represents a unique opportunity to acquire a newly constructed apartment community with excellent in-place cash flow and the ability to strategically increase collections by re-tenanting the property. The property is situated on an 11,377 square foot parcel and features one one-bedroom unit, seven three-bedroom units and four four-bedroom units. Due to its 2013 construction, the building is not subject to Los Angeles Rent Control Statutes. Interior units offer large floor plans with private balconies. Additionally, the property features on-site parking and is individually metered for electric and gas. Investors will have the opportunity to acquire a new construction property at an attractive basis with excellent in-place returns and future upside potential. *The property is subject to a rental covenant and agreement through the Los Angeles Housing and Community Investment Department for a period of 30 Years from the certificate of occupancy. Please contact the Listing Agent for Details.

Investment Highlights

  • A Non-Rent Controlled Opportunity That is Being Sold by the Original Developer
  • SUPERIOR IN-PLACE RETURNS: Offered at an In-Place 5.24 Percent Cap Rate and 12.37 GRM with Additional Upside Potential
  • OPPORTUNITY TO ADD ADDITIONAL UNITS
  • Remaining Upside Potential : Despite Being Recently Built, Brynhurst Offers Approximately 30% Rental Upside by Re-Leasing Units at Current Section 8 Rental Rates
  • Ideal Unit Mix for the Submarket: Majority of the Units Consist of Three-Bedroom and Four-Bedroom Units

Exclusively Listed By

Listing Price: $3,750,000

Cap Rate
5.24%
Number of Units
12
Price/Unit
$312,500
Price/Gross SF
$302.54
Gross SF
12,395

Investment Highlights

  • A Non-Rent Controlled Opportunity That is Being Sold by the Original Developer
  • SUPERIOR IN-PLACE RETURNS: Offered at an In-Place 5.24 Percent Cap Rate and 12.37 GRM with Additional Upside Potential
  • OPPORTUNITY TO ADD ADDITIONAL UNITS
  • Remaining Upside Potential : Despite Being Recently Built, Brynhurst Offers Approximately 30% Rental Upside by Re-Leasing Units at Current Section 8 Rental Rates
  • Ideal Unit Mix for the Submarket: Majority of the Units Consist of Three-Bedroom and Four-Bedroom Units

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 6332 Brynhurst Avenue, a 12- unit apartment community that was built in 2013. The property is located in Hyde Park, just west of Crenshaw Boulevard and North of Hyde Park Boulevard. The offering represents a unique opportunity to acquire a newly constructed apartment community with excellent in-place cash flow and the ability to strategically increase collections by re-tenanting the property. The property is situated on an 11,377 square foot parcel and features one one-bedroom unit, seven three-bedroom units and four four-bedroom units. Due to its 2013 construction, the building is not subject to Los Angeles Rent Control Statutes. Interior units offer large floor plans with private balconies. Additionally, the property features on-site parking and is individually metered for electric and gas. Investors will have the opportunity to acquire a new construction property at an attractive basis with excellent in-place returns and future upside potential. *The property is subject to a rental covenant and agreement through the Los Angeles Housing and Community Investment Department for a period of 30 Years from the certificate of occupancy. Please contact the Listing Agent for Details.

Exclusively Listed By

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