Multifamily

5801 Packard Street

5801 Packard Street, Los Angeles, CA 90019

Listing Price: $3,225,000

Cap Rate
4.03%
Number of Units
8
Price/Unit
$403,125
Price/Gross SF
$388.55
Gross SF
8,300

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. Positioned just north of Pico Boulevard and east of Fairfax Avenue, the property is located in a prime location within Los Angeles. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential.

Investment Highlights

  • While Current Ownership Has Completed Extensive Renovations to 38 Percent of the Units, Investors Will Have an Excellent Opportunity to Continue These Improvements in the Remaining Units
  • Located in the Prestigious Carthay Square Neighborhood Where Homes Average $1.69M
  • Due to the Property's Central Location, Residents Enjoy Convenient Access to Employment Centers, Retail and Entertainment From Miracle Mile, Pico-Robertson, and Koreatown
  • The Property Features On-Site Laundry, Parking and is Separately Metered for Electricity and Gas
  • Current Ownership Has Already Completed the Government Required Seismic Retrofit Work Which Saves a New Investor Substantially in Capital and Time While Also Being Able to Take Advantage of Capital Surcharges
  • The Property is Approximately 1.2 Miles from the Future Wilshire/Fairfax Metro Station Which is Slated to Open in 2023 and Will Provide Residents With an Alternative Commute Option to Travel Throughout Los Angeles

Exclusively Listed By

Listing Price: $3,225,000

Cap Rate
4.03%
Number of Units
8
Price/Unit
$403,125
Price/Gross SF
$388.55
Gross SF
8,300

Investment Highlights

  • While Current Ownership Has Completed Extensive Renovations to 38 Percent of the Units, Investors Will Have an Excellent Opportunity to Continue These Improvements in the Remaining Units
  • Located in the Prestigious Carthay Square Neighborhood Where Homes Average $1.69M
  • Due to the Property's Central Location, Residents Enjoy Convenient Access to Employment Centers, Retail and Entertainment From Miracle Mile, Pico-Robertson, and Koreatown
  • The Property Features On-Site Laundry, Parking and is Separately Metered for Electricity and Gas
  • Current Ownership Has Already Completed the Government Required Seismic Retrofit Work Which Saves a New Investor Substantially in Capital and Time While Also Being Able to Take Advantage of Capital Surcharges
  • The Property is Approximately 1.2 Miles from the Future Wilshire/Fairfax Metro Station Which is Slated to Open in 2023 and Will Provide Residents With an Alternative Commute Option to Travel Throughout Los Angeles

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. Positioned just north of Pico Boulevard and east of Fairfax Avenue, the property is located in a prime location within Los Angeles. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential.

Exclusively Listed By

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