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Multifamily

1420 S Bedford St

1420 S Bedford St, Los Angeles, CA 90035

Listing Price: $7,500,000

Cap Rate
4.02%
Number of Units
18
Price/Unit
$416,667
Price/Gross SF
$439.55
Gross SF
17,063

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer the opportunity to acquire 1420 South Bedford Street, an 18 unit apartment community located in the prime Pico Robertson neighborhood of Los Angeles. The subject property is located just south of Pico Boulevard between La Cienega Boulevard and Robertson Boulevard. Situated on a 14,078 square foot lot, 1420 South Bedford consists of seven one-bedroom units and 11 two-bedroom units. The building will be delivered with eight units vacant, offering an excellent opportunity for an astute investor to immediately enhance the asset through unit renovations and achieve rental premiums without tenant relocation risk. 1420 South Bedford provides investors a rare buying opportunity to acquire a mid-sized value-add property that is located in one of Los Angeles' most desirable neighborhoods.

Investment Highlights

  • 50 Percent of Units Will Be Delivered Vacant, Allowing New Ownership the Opportunity to Immediately Renovate and Re-Tenant the Property
  • New Exterior Paint, New Landscaping and Replastered Pool All Done Within the Last Six Months
  • Located Between Some of Los Angeles' Most Coveted Submarkets – Beverly Hills, Pico-Robertson and Century City
  • 61 Percent Two-Bedroom Units With Large Open Layouts
  • 8% of Multifamily Buildings are 16+ Units in the 90035 Zip Code
  • Ownership has Submitted Plans to Add Two Additional Units and Anticipates Having Approved Permits – With New Ownership Responsible to Complete Construction of new ADU Units

Exclusively Listed By

Listing Price: $7,500,000

Cap Rate
4.02%
Number of Units
18
Price/Unit
$416,667
Price/Gross SF
$439.55
Gross SF
17,063

Investment Highlights

  • 50 Percent of Units Will Be Delivered Vacant, Allowing New Ownership the Opportunity to Immediately Renovate and Re-Tenant the Property
  • New Exterior Paint, New Landscaping and Replastered Pool All Done Within the Last Six Months
  • Located Between Some of Los Angeles' Most Coveted Submarkets – Beverly Hills, Pico-Robertson and Century City
  • 61 Percent Two-Bedroom Units With Large Open Layouts
  • 8% of Multifamily Buildings are 16+ Units in the 90035 Zip Code
  • Ownership has Submitted Plans to Add Two Additional Units and Anticipates Having Approved Permits – With New Ownership Responsible to Complete Construction of new ADU Units

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer the opportunity to acquire 1420 South Bedford Street, an 18 unit apartment community located in the prime Pico Robertson neighborhood of Los Angeles. The subject property is located just south of Pico Boulevard between La Cienega Boulevard and Robertson Boulevard. Situated on a 14,078 square foot lot, 1420 South Bedford consists of seven one-bedroom units and 11 two-bedroom units. The building will be delivered with eight units vacant, offering an excellent opportunity for an astute investor to immediately enhance the asset through unit renovations and achieve rental premiums without tenant relocation risk. 1420 South Bedford provides investors a rare buying opportunity to acquire a mid-sized value-add property that is located in one of Los Angeles' most desirable neighborhoods.

Exclusively Listed By

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