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Multifamily

1746 South La Brea Ave

1746 South La Brea Ave, Los Angeles, CA 90019

Listing Price: $1,500,000

Cap Rate
2.51%
Number of Units
6
Price/Unit
$250,000
Price/Gross SF
$305.06
Gross SF
4,917

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1746 South La Brea Avenue, a six-unit apartment community in Mid-City. 1746 South La Brea Avenue is situated just south of Venice Boulevard within the Mid-City submarket in a dense infill pocket of Los Angeles. The well-maintained property built in 1958 consists of two one-bedroom units and four two-bedroom units. Its 5,796 square foot lot is located within a highly desirable pocket of Mid-City Los Angeles. It is walking distance to the main intersection of La Brea Avenue & San Vicente Boulevard providing convenient access to daily errands, retail and entertainment venues. The property features nine on-site parking spots (five covered & four uncovered). The continued gentrification of the surrounding area along with the remaining value add potential for a new owner to renovate the building to achieve superior future returns moving forward makes 1746 South La Brea Avenue an excellent investment opportunity.

Investment Highlights

  • R3 Zoning With an Opportunity to Add Additional Units Through the State's Favorable Accessory Dwelling Unit (ADU) Program-Allowing for Added Future Growth and Appreciation Potential
  • Building is Located within Mid-City Opportunity Zone
  • The Mid-City Submarket is a Rapidly Growing infill Urban Location Proximate to Downtown Los Angeles, Public Transit, and Major Employment Centers
  • With a Walk Score of 84 "Very Walkable" - Most Errands Can Be Accomplished on Foot
  • 81 Percent Remaining Rental Upside Through Capital Improvements and Interior Renovations to All Six Units
  • NINE PARKING SPACES WITH NO SEISMIC RETROFIT REQUIREMENTS
  • Current Ownership has Operated the Property since 2002

Exclusively Listed By

Listing Price: $1,500,000

Cap Rate
2.51%
Number of Units
6
Price/Unit
$250,000
Price/Gross SF
$305.06
Gross SF
4,917

Investment Highlights

  • R3 Zoning With an Opportunity to Add Additional Units Through the State's Favorable Accessory Dwelling Unit (ADU) Program-Allowing for Added Future Growth and Appreciation Potential
  • Building is Located within Mid-City Opportunity Zone
  • The Mid-City Submarket is a Rapidly Growing infill Urban Location Proximate to Downtown Los Angeles, Public Transit, and Major Employment Centers
  • With a Walk Score of 84 "Very Walkable" - Most Errands Can Be Accomplished on Foot
  • 81 Percent Remaining Rental Upside Through Capital Improvements and Interior Renovations to All Six Units
  • NINE PARKING SPACES WITH NO SEISMIC RETROFIT REQUIREMENTS
  • Current Ownership has Operated the Property since 2002

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1746 South La Brea Avenue, a six-unit apartment community in Mid-City. 1746 South La Brea Avenue is situated just south of Venice Boulevard within the Mid-City submarket in a dense infill pocket of Los Angeles. The well-maintained property built in 1958 consists of two one-bedroom units and four two-bedroom units. Its 5,796 square foot lot is located within a highly desirable pocket of Mid-City Los Angeles. It is walking distance to the main intersection of La Brea Avenue & San Vicente Boulevard providing convenient access to daily errands, retail and entertainment venues. The property features nine on-site parking spots (five covered & four uncovered). The continued gentrification of the surrounding area along with the remaining value add potential for a new owner to renovate the building to achieve superior future returns moving forward makes 1746 South La Brea Avenue an excellent investment opportunity.

Exclusively Listed By

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