Skip to main content

Multifamily

1134 S Vancouver Ave

1134 S Vancouver Ave, East Los Angeles, CA 90022

Listing Price: $2,842,160

Cap Rate
4.26%
Number of Units
16
Price/Unit
$177,635
Price/Gross SF
$355.27
Gross SF
8,000

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 1134 South Vancouver Avenue, a 16-unit multifamily property located in the desirable neighborhood of East Los Angeles. The property is perfectly situated between the area's heaviest retail boulevards - Whittier, Atlantic, and Olympic Boulevards. Tenants enjoy the convenience of being walking distance to Target, Rite-Aid, CVS, Mcdonalds, Starbucks, Numero Uno Market, and several other restaurants and retailers. James A. Garfield High School and Winter Gardens Elementary can also be found within a mile of the property. The property offers 8,000 rentable square feet and has been well-maintained by the current owner. Throughout their ownership, they have upgraded copper plumbing with oversized ABS piping, replaced the electrical system, recently installed new windows throughout the building, and recently added a fresh coat of paint to the exterior stucco. The 6,527 square-foot parcel offers some unused space at the east end of the lot, which is currently being used as storage and revolving day-parking. Current ownership is achieving a monthly average of $1,306 per one-bedroom unit and $807 per studio unit. Since the East Los Angeles market supports rents of $1,700 and $1,300 for one-bedroom and studio units, respectively, a new owner has the opportunity to capture approximately 31% of rental upside. A savvy investor may also recognize the opportunity to repurpose the unused area of the lot to generate new income via designated on-site parking, on-site laundry facilities, or even additional units (Buyer to verify any additional uses at the site).The opportunity to acquire 1134 South Vancouver is truly rare since no multifamily properties of this size have sold in the 90022 zip code in over a decade. As the neighborhood continues to gentrify, this represents a chance for an investor to gain a large footprint and capitalize at a greater scale.

Investment Highlights

  • No 16+ Unit Multifamily Property has Sold in the 90022 Zip Code in Over 10 Years
  • Nestled Between Retail Corridors Along Olympic, Atlantic, and Whittier Boulevards, Walking Distance to Target, Starbucks, CVS, Rite-Aid, and McDonalds
  • Several Recent Upgrades Including All Brand New Windows, Full Copper Plumbing, LED Energy Efficient Lighting, and Freshly Painted Exterior Stucco
  • Approximately 31% Upside in Rents through Unit Renovations
  • New Ownership Has an Opportunity to Add Additional Units Through the State's Favorable Accessory Dwelling Unit (ADU) Program – Allowing for Added Future
  • Higher Allowable Annual Rent Increases Due to Utility Meters

Exclusively Listed By

Financing By

Listing Price: $2,842,160

Cap Rate
4.26%
Number of Units
16
Price/Unit
$177,635
Price/Gross SF
$355.27
Gross SF
8,000

Investment Highlights

  • No 16+ Unit Multifamily Property has Sold in the 90022 Zip Code in Over 10 Years
  • Nestled Between Retail Corridors Along Olympic, Atlantic, and Whittier Boulevards, Walking Distance to Target, Starbucks, CVS, Rite-Aid, and McDonalds
  • Several Recent Upgrades Including All Brand New Windows, Full Copper Plumbing, LED Energy Efficient Lighting, and Freshly Painted Exterior Stucco
  • Approximately 31% Upside in Rents through Unit Renovations
  • New Ownership Has an Opportunity to Add Additional Units Through the State's Favorable Accessory Dwelling Unit (ADU) Program – Allowing for Added Future
  • Higher Allowable Annual Rent Increases Due to Utility Meters

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 1134 South Vancouver Avenue, a 16-unit multifamily property located in the desirable neighborhood of East Los Angeles. The property is perfectly situated between the area's heaviest retail boulevards - Whittier, Atlantic, and Olympic Boulevards. Tenants enjoy the convenience of being walking distance to Target, Rite-Aid, CVS, Mcdonalds, Starbucks, Numero Uno Market, and several other restaurants and retailers. James A. Garfield High School and Winter Gardens Elementary can also be found within a mile of the property. The property offers 8,000 rentable square feet and has been well-maintained by the current owner. Throughout their ownership, they have upgraded copper plumbing with oversized ABS piping, replaced the electrical system, recently installed new windows throughout the building, and recently added a fresh coat of paint to the exterior stucco. The 6,527 square-foot parcel offers some unused space at the east end of the lot, which is currently being used as storage and revolving day-parking. Current ownership is achieving a monthly average of $1,306 per one-bedroom unit and $807 per studio unit. Since the East Los Angeles market supports rents of $1,700 and $1,300 for one-bedroom and studio units, respectively, a new owner has the opportunity to capture approximately 31% of rental upside. A savvy investor may also recognize the opportunity to repurpose the unused area of the lot to generate new income via designated on-site parking, on-site laundry facilities, or even additional units (Buyer to verify any additional uses at the site).The opportunity to acquire 1134 South Vancouver is truly rare since no multifamily properties of this size have sold in the 90022 zip code in over a decade. As the neighborhood continues to gentrify, this represents a chance for an investor to gain a large footprint and capitalize at a greater scale.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower