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Multifamily

1812 W 5th St

1812 W 5th St, Los Angeles, CA 90057

Listing Price: $5,250,000

Cap Rate
4.60%
Number of Units
40
Price/Unit
$131,250
Price/Gross SF
$235.00
Gross SF
22,340

Investment Overview

1812 West 5th Street is a 40-unit apartment building located in a prime Westlake location just north of 6th street near McArthur Park and the Home Depot, a highly walkable location with access to entertainment, shopping, dining, nightlife, and employment opportunities.  Built in 1927, this value-add investment presents the investor an opportunity to achieve a 37% upside in rents after renovations when the units turn. The property will be delivered with nine vacancies at the close of escrow.  The subject property is being offered at a 4.60% current cap rate and a 11.40 GRM on current income.  Ease of management as the electric and gas utilities are separately metered. There is also a RUBS program in-place for future tenants of water and sewer partial reimbursement.  The subject property has an incredible walk score of 93, a “Walker’s Paradise” recognized for its unparalleled access to dining, shopping, parks, schools, amenities and entertainment; and is a short walk to MacArthur Park, Good Samaritan Hospital and the Metro Purple and Red Lines.  Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; it’s rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles

Investment Highlights

  • 40-unit apartment building located in a prime Westlake location just north of 6th street near McArthur Park and the Home Depot, a highly walkable location with access to entertainment, shopping...
  • Built in 1927, this value-add investment presents the investor an opportunity to achieve a 37% upside in rents after renovations when the units turn. The property will be delivered with nine vacancies
  • The subject property is being offered at a 4.60% current cap rate and a 11.40 GRM on current income.
  • Ease of management as the electric and gas utilities are separately metered. There is also a RUBS program in-place for future tenants of water and sewer partial reimbursement.

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    (310) 909-5444

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

  • Leonardo Laterza

    Senior Associate

    Email Leonardo

    License(s): CA: 01861324

    West Los Angeles

Listing Price: $5,250,000

Cap Rate
4.60%
Number of Units
40
Price/Unit
$131,250
Price/Gross SF
$235.00
Gross SF
22,340

Investment Highlights

  • 40-unit apartment building located in a prime Westlake location just north of 6th street near McArthur Park and the Home Depot, a highly walkable location with access to entertainment, shopping...
  • Built in 1927, this value-add investment presents the investor an opportunity to achieve a 37% upside in rents after renovations when the units turn. The property will be delivered with nine vacancies
  • The subject property is being offered at a 4.60% current cap rate and a 11.40 GRM on current income.
  • Ease of management as the electric and gas utilities are separately metered. There is also a RUBS program in-place for future tenants of water and sewer partial reimbursement.

Investment Overview

1812 West 5th Street is a 40-unit apartment building located in a prime Westlake location just north of 6th street near McArthur Park and the Home Depot, a highly walkable location with access to entertainment, shopping, dining, nightlife, and employment opportunities.  Built in 1927, this value-add investment presents the investor an opportunity to achieve a 37% upside in rents after renovations when the units turn. The property will be delivered with nine vacancies at the close of escrow.  The subject property is being offered at a 4.60% current cap rate and a 11.40 GRM on current income.  Ease of management as the electric and gas utilities are separately metered. There is also a RUBS program in-place for future tenants of water and sewer partial reimbursement.  The subject property has an incredible walk score of 93, a “Walker’s Paradise” recognized for its unparalleled access to dining, shopping, parks, schools, amenities and entertainment; and is a short walk to MacArthur Park, Good Samaritan Hospital and the Metro Purple and Red Lines.  Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; it’s rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    (310) 909-5444

    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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