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Multifamily

1663 W 11th Pl

1663 W 11th Pl, Los Angeles, CA 90015

Listing Price: $3,730,869

Cap Rate
5.08%
Number of Units
26
Price/Unit
$143,495
Price/Gross SF
$298.37
Gross SF
12,504

Investment Overview

Marcus & Millichap, the exclusive listing agent, is pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 5.08% Cap Rate and 11.51 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. The subject property is located in the Westlake South neighborhood which is one of the fastest growing pockets of Los Angeles between Downtown and Koreatown. The property’s transit-oriented and highly walkable location offers residents access to the top job centers in Los Angeles, an emerging dining and nightlife scene, and plentiful recreational and cultural amenities. Excessive costs of home ownership and high barriers to entry for new rental developments continue to fuel strong submarket fundamentals. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining.

Investment Highlights

  • Priced at $143,495 Per Unit, 11th Place Offers a Low Entry Point
  • Located in the Path of Future Growth Between Downtown Los Angeles and Koreatown
  • Approximately 27 Percent of Remaining Upside Potential with Unit Turnover
  • New Rooftop Solar Panels and a New Water Heater Have Been Recently Installed Creating Lower Operating Costs for Ownership

Exclusively Listed By

Financing By

Listing Price: $3,730,869

Cap Rate
5.08%
Number of Units
26
Price/Unit
$143,495
Price/Gross SF
$298.37
Gross SF
12,504

Investment Highlights

  • Priced at $143,495 Per Unit, 11th Place Offers a Low Entry Point
  • Located in the Path of Future Growth Between Downtown Los Angeles and Koreatown
  • Approximately 27 Percent of Remaining Upside Potential with Unit Turnover
  • New Rooftop Solar Panels and a New Water Heater Have Been Recently Installed Creating Lower Operating Costs for Ownership

Investment Overview

Marcus & Millichap, the exclusive listing agent, is pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 5.08% Cap Rate and 11.51 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. The subject property is located in the Westlake South neighborhood which is one of the fastest growing pockets of Los Angeles between Downtown and Koreatown. The property’s transit-oriented and highly walkable location offers residents access to the top job centers in Los Angeles, an emerging dining and nightlife scene, and plentiful recreational and cultural amenities. Excessive costs of home ownership and high barriers to entry for new rental developments continue to fuel strong submarket fundamentals. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining.

Exclusively Listed By

Financing By

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