Multifamily

5218 Latham St

5218 Latham St, Los Angeles, CA 90011

Listing Price: $1,875,000

Cap Rate
6.65%
Number of Units
8
Price/Unit
$234,375
Price/Gross SF
$390.62
Gross SF
4,800

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 5218 Latham Street, an eight-unit investment opportunity in the Central Alameda neighborhood of Los Angeles. This is a centrally located property in South Los Angeles with close proximity and transportation options to commute to Downtown Los Angeles and neighboring cities of Huntington Park and Vernon. The subject property offers an investor the rare opportunity to purchase a 100% vacant building, allowing an investor to renovate and achieve market rents immediately upon the close of escrow. The building consists of eight two-bedroom one-bathroom units with no buyouts or relocation required. At the projected market rents, once stabilized the building is being offered at a projected 6.65%-7.58% CAP rate. There are eight total parking spaces with no seismic retrofit work required. Gas and electricity are separately metered and trash removal is handled by the city with no expense to the ownership. The subject property is located two blocks from Hooper Avenue Elementary School and has a walk score of 75. Residents have many transportation options available as the property is in close proximity to the Metro A Rail Line as well as multiple Metro bus lines along Hooper Avenue and Compton Avenue. 5218 Latham Street is ideally located for residents to commute to employment opportunities in Downtown Los Angeles as well as the neighboring industrial cities of Vernon and Huntington Park with plentiful warehouse and manufacturing employment.

Investment Highlights

  • Located just east of Hooper Avenue between East Vernon Avenue and East Slauson Avenue, a location in a densely populated, gentrifying neighborhood
  • The subject property features a unit mix of eight two-bedroom one-bathroom units; unique opportunity as all units will be delivered vacant at closing
  • After the renovation and lease-up period, the subject property at the asking price is projected to achieve a CAP rate of 6.65%-7.58%
  • Opportunity to fully stabilize the building immediately with no buyouts or relocation required
  • 5218 Latham Street has eight total parking spaces along the side and rear of the property with no seismic retrofit required

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

  • Leonardo Laterza

    Senior Associate

    Email Leonardo

    License(s): CA: 01861324

    West Los Angeles

Listing Price: $1,875,000

Cap Rate
6.65%
Number of Units
8
Price/Unit
$234,375
Price/Gross SF
$390.62
Gross SF
4,800

Investment Highlights

  • Located just east of Hooper Avenue between East Vernon Avenue and East Slauson Avenue, a location in a densely populated, gentrifying neighborhood
  • The subject property features a unit mix of eight two-bedroom one-bathroom units; unique opportunity as all units will be delivered vacant at closing
  • After the renovation and lease-up period, the subject property at the asking price is projected to achieve a CAP rate of 6.65%-7.58%
  • Opportunity to fully stabilize the building immediately with no buyouts or relocation required
  • 5218 Latham Street has eight total parking spaces along the side and rear of the property with no seismic retrofit required

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 5218 Latham Street, an eight-unit investment opportunity in the Central Alameda neighborhood of Los Angeles. This is a centrally located property in South Los Angeles with close proximity and transportation options to commute to Downtown Los Angeles and neighboring cities of Huntington Park and Vernon. The subject property offers an investor the rare opportunity to purchase a 100% vacant building, allowing an investor to renovate and achieve market rents immediately upon the close of escrow. The building consists of eight two-bedroom one-bathroom units with no buyouts or relocation required. At the projected market rents, once stabilized the building is being offered at a projected 6.65%-7.58% CAP rate. There are eight total parking spaces with no seismic retrofit work required. Gas and electricity are separately metered and trash removal is handled by the city with no expense to the ownership. The subject property is located two blocks from Hooper Avenue Elementary School and has a walk score of 75. Residents have many transportation options available as the property is in close proximity to the Metro A Rail Line as well as multiple Metro bus lines along Hooper Avenue and Compton Avenue. 5218 Latham Street is ideally located for residents to commute to employment opportunities in Downtown Los Angeles as well as the neighboring industrial cities of Vernon and Huntington Park with plentiful warehouse and manufacturing employment.

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

  • Leonardo Laterza

    Senior Associate

    Email Leonardo

    License(s): CA: 01861324

    West Los Angeles

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