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Multifamily

4348 Lockwood

4348 Lockwood Ave, Los Angeles, CA 90029

Listing Price: $4,650,000

Cap Rate
3.36%
Number of Units
21
Price/Unit
$221,429
Price/Gross SF
$503.03
Gross SF
9,244

Investment Overview

THG Multifamily has been exclusively retained by Ownership to offer for sale 4348 Lockwood (the “Property”), a 21-unit multifamily building located two blocks south of Santa Monica boulevard on the south side of Lockwood Avenue in the Virgil Village submarket of Los Angeles. 4348 Lockwood is proximate to demand drivers such as Sunset Junction, Silver Lake, and Echo Park and within a short drive of employment centers such as Hollywood, Downtown Los Angeles, and Mid-Wilshire. The Property has been well maintained by Ownership with 10 of the 21 units having received some upgrades and achieving strong rental premiums. All units would benefit from a more comprehensive renovation program that would maximize rents on all units. By doing so, investors will capture approximately 43% remaining upside in rents.

Investment Highlights

  • 43% Upside In Rents
  • Strong Demand Drivers - Lower density neighborhood that is away from congestion but still close to jobs.
  • Favorable Price Points - Market rents appeal to a large group of renters at $1,550-$1,770.
  • 91 Walk Score
  • Located in an Opportunity Zone
  • Operational Upside - Investors can increase NOI by reducing the utilities expense and increasing RUBS income

Exclusively Listed By

Listing Price: $4,650,000

Cap Rate
3.36%
Number of Units
21
Price/Unit
$221,429
Price/Gross SF
$503.03
Gross SF
9,244

Investment Highlights

  • 43% Upside In Rents
  • Strong Demand Drivers - Lower density neighborhood that is away from congestion but still close to jobs.
  • Favorable Price Points - Market rents appeal to a large group of renters at $1,550-$1,770.
  • 91 Walk Score
  • Located in an Opportunity Zone
  • Operational Upside - Investors can increase NOI by reducing the utilities expense and increasing RUBS income

Investment Overview

THG Multifamily has been exclusively retained by Ownership to offer for sale 4348 Lockwood (the “Property”), a 21-unit multifamily building located two blocks south of Santa Monica boulevard on the south side of Lockwood Avenue in the Virgil Village submarket of Los Angeles. 4348 Lockwood is proximate to demand drivers such as Sunset Junction, Silver Lake, and Echo Park and within a short drive of employment centers such as Hollywood, Downtown Los Angeles, and Mid-Wilshire. The Property has been well maintained by Ownership with 10 of the 21 units having received some upgrades and achieving strong rental premiums. All units would benefit from a more comprehensive renovation program that would maximize rents on all units. By doing so, investors will capture approximately 43% remaining upside in rents.

Exclusively Listed By

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