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Multifamily

1732 W 20th St

1732 W 20th St, Los Angeles, CA 90007

Listing Price: $1,895,000

Cap Rate
4.35%
Number of Units
8
Price/Unit
$236,875
Price/Gross SF
$487.40
Gross SF
3,888

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1732 West 20th Street, an eight-unit, bungalow style apartment community located just east of Harvard Heights and south of Koreatown. The property offers investors a unique opportunity to acquire a renovated building with a stable operating history but remaining rental upside. Current ownership has extensively renovated six of the eight units at the property including new kitchen cabinets and countertops, new appliances, new bathrooms, new flooring and recessed lighting. Renovated units are achieving a rent premium of $712 over the average in-place rents. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the remaining two units and achieve superior future returns moving forward make 1732 West 20th Street an excellent acquisition opportunity.

Investment Highlights

  • Renovations to 75% of the Units, Investors Will Have an Excellent Opportunity to Continue These Improvements in the Remaining Units and Capture Additional Rental Upside
  • Reimagined Units with Upgraded Kitchens, Appliances, In-Unit Washer/ Dryer Hookups, Flooring and New Fixtures Throughout (Select Units)
  • Low Density Community Featuring Bungalow Style Units
  • The Property is Separately Metered for Gas, Electric, Features Individual Water Heaters for all Units and Tenants pay Trash Providing Lower Expenses and Stable Future Returns
  • Adjacent to Thriving Areas - Koreatown, USC and Mid-City, where Rents are Higher, 1732 West 20th Street Offers a Value Proposition to Tenants Who Want the Amenities of Neighboring Submarkets but Have Been Priced Out

Exclusively Listed By

Listing Price: $1,895,000

Cap Rate
4.35%
Number of Units
8
Price/Unit
$236,875
Price/Gross SF
$487.40
Gross SF
3,888

Investment Highlights

  • Renovations to 75% of the Units, Investors Will Have an Excellent Opportunity to Continue These Improvements in the Remaining Units and Capture Additional Rental Upside
  • Reimagined Units with Upgraded Kitchens, Appliances, In-Unit Washer/ Dryer Hookups, Flooring and New Fixtures Throughout (Select Units)
  • Low Density Community Featuring Bungalow Style Units
  • The Property is Separately Metered for Gas, Electric, Features Individual Water Heaters for all Units and Tenants pay Trash Providing Lower Expenses and Stable Future Returns
  • Adjacent to Thriving Areas - Koreatown, USC and Mid-City, where Rents are Higher, 1732 West 20th Street Offers a Value Proposition to Tenants Who Want the Amenities of Neighboring Submarkets but Have Been Priced Out

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1732 West 20th Street, an eight-unit, bungalow style apartment community located just east of Harvard Heights and south of Koreatown. The property offers investors a unique opportunity to acquire a renovated building with a stable operating history but remaining rental upside. Current ownership has extensively renovated six of the eight units at the property including new kitchen cabinets and countertops, new appliances, new bathrooms, new flooring and recessed lighting. Renovated units are achieving a rent premium of $712 over the average in-place rents. The continued gentrification of the surrounding area along with the value-add potential for a new owner to continue renovating the remaining two units and achieve superior future returns moving forward make 1732 West 20th Street an excellent acquisition opportunity.

Exclusively Listed By

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