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Multifamily

5728 Morley Street

5728 Morley St, Los Angeles, CA 90045

Listing Price: $2,550,000

Cap Rate
4.94%
Number of Units
8
Price/Unit
$318,750
Price/Gross SF
$335.92
Gross SF
7,591

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 5728 Morley St, Los Angeles, CA 90045. A multi-family apartment in the seaside submarket of Play Del Ray / Westchester; built in 1950 and located in the Santa Monica Bay and the Westside region of Los Angeles, between Manchester Ave and Century Blvd. 5728 Morley St features a single parcel in Westchester, just north of LAX. The current structure consists of a multifamily complex totaling 6,354 SF and is currently 100% occupied. 5728 Morley Street sits on a 7,591 SF lot and features a unit mix of 1 three-Bedroom, 3 two-bedrooms, and 4 one-bedroom units. This stabilized investment provides an investor the opportunity to acquire a well-maintained asset with strong in-place cash flow with a 4.94% CAP rate on current income and GRM of 13.07. The property includes eight parking spaces. The subject property is being offered at a price per square unit of $318,750 at a 5.02% CAP. The units feature modern designs with smooth ceilings, recessed lighting, hardwood floors and tiled kitchens and bathrooms. Units are equipped with air conditioning and ceiling fans in bedrooms (additional ceiling fan in dining room), and all units are individually metered for gas and electric. 5728 Morley sits in the heart of Silicon Beach, which is home to more than 500 tech companies like Snapchat, Tinder and many more. The area offers easy access to LAX and close proximity to the 405 & 105 Freeways which gives residents the ability to easily travel throughout Los Angeles.

Investment Highlights

  • The subject property was built in 1950, featuring 8-units located in the growing silicon beach area between Manchester and Century Boulevard, a location that is home to more than 500 tech companies
  • The subject property totals 6,354 SF featuring a unit mix that includes 4 one-bedrooms, 3 two-bedrooms and 1 three-bedroom; there are currently no vacancies.
  • This stabilized investment provides an investor the opportunity to acquire a well-maintained asset with strong cash flow of 4.94%on current income with minimal deferred maintenance.
  • The units feature modern designs with smooth ceilings, recessed lighting, hardwood floors and tiled kitchens and bathrooms. Units are equipped with air conditioning and ceiling fans in bedrooms (additional ceiling fan in dining room), and all units are individually metered for gas and electric.
  • The building is set on a 7,591 SF lot with a laundry room and room on-site. Furthermore, the property features eight parking spaces with no soft story.
  • Located in the Playa Del Ray / Westchester neighborhood, just north of LAX. The area is known for its beachside vibe and community where people bike, swim and do yoga on the beach.

Exclusively Listed By

Financing By

Listing Price: $2,550,000

Cap Rate
4.94%
Number of Units
8
Price/Unit
$318,750
Price/Gross SF
$335.92
Gross SF
7,591

Investment Highlights

  • The subject property was built in 1950, featuring 8-units located in the growing silicon beach area between Manchester and Century Boulevard, a location that is home to more than 500 tech companies
  • The subject property totals 6,354 SF featuring a unit mix that includes 4 one-bedrooms, 3 two-bedrooms and 1 three-bedroom; there are currently no vacancies.
  • This stabilized investment provides an investor the opportunity to acquire a well-maintained asset with strong cash flow of 4.94%on current income with minimal deferred maintenance.
  • The units feature modern designs with smooth ceilings, recessed lighting, hardwood floors and tiled kitchens and bathrooms. Units are equipped with air conditioning and ceiling fans in bedrooms (additional ceiling fan in dining room), and all units are individually metered for gas and electric.
  • The building is set on a 7,591 SF lot with a laundry room and room on-site. Furthermore, the property features eight parking spaces with no soft story.
  • Located in the Playa Del Ray / Westchester neighborhood, just north of LAX. The area is known for its beachside vibe and community where people bike, swim and do yoga on the beach.

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 5728 Morley St, Los Angeles, CA 90045. A multi-family apartment in the seaside submarket of Play Del Ray / Westchester; built in 1950 and located in the Santa Monica Bay and the Westside region of Los Angeles, between Manchester Ave and Century Blvd. 5728 Morley St features a single parcel in Westchester, just north of LAX. The current structure consists of a multifamily complex totaling 6,354 SF and is currently 100% occupied. 5728 Morley Street sits on a 7,591 SF lot and features a unit mix of 1 three-Bedroom, 3 two-bedrooms, and 4 one-bedroom units. This stabilized investment provides an investor the opportunity to acquire a well-maintained asset with strong in-place cash flow with a 4.94% CAP rate on current income and GRM of 13.07. The property includes eight parking spaces. The subject property is being offered at a price per square unit of $318,750 at a 5.02% CAP. The units feature modern designs with smooth ceilings, recessed lighting, hardwood floors and tiled kitchens and bathrooms. Units are equipped with air conditioning and ceiling fans in bedrooms (additional ceiling fan in dining room), and all units are individually metered for gas and electric. 5728 Morley sits in the heart of Silicon Beach, which is home to more than 500 tech companies like Snapchat, Tinder and many more. The area offers easy access to LAX and close proximity to the 405 & 105 Freeways which gives residents the ability to easily travel throughout Los Angeles.

Exclusively Listed By

Financing By

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