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Multifamily

1138 Bronson Ave

1138 S Bronson Ave, Los Angeles, CA 90019

Listing Price: $2,650,000

Cap Rate
4.07%
Number of Units
8
Price/Unit
$331,250
Price/Gross SF
$199.23
Gross SF
13,301

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 1138 S Bronson Avenue, Los Angeles. CA 90019. Built in 1933, this 8-unit property is in the premier Country Club Park neighborhood, located between Olympic Blvd and Pico Boulevard, just south of Wilshire Park. 1138 S Bronson Ave is surrounded by some of the city’s most iconic restaurants, nightlife, cafes, and shopping. 1138 Bronson Avenue totals 6,634 SF featuring a unit mix that includes four two-bedrooms and four one-bedroom units. This is a prime opportunity for an investor to acquire a building with strong in-place income with additional rental upside of 28%. The subject property is being offered at a 4.07% CAP rate on current income. Additionally, tenants are responsible for waste removal with individual trash bins and the building is separately metered for gas and electricity. The units boast dual entrances, hardwood floors throughout, tile floor in the kitchen and bathroom, updated kitchen cabinets, modern appliances (gas oven with designer range top, refrigerator, and microwave) and granite countertops. The units also feature large closets, air-conditioning, and ceiling fans. The building is set on a 13,301 SF lot with community landscaped front yard with a water fountain. Furthermore, the property features community laundry and eight parking spaces in covered garages. Country Club Park is one of the most historic submarkets in Los Angeles and a destination for ethnic cuisine. The subject property boasts a high walk score of 87, a “very walkable neighborhood”. Extensive dining and nightlife is in close proximity to the building including the original Café El Chole, BCD Tofu House, Gus’s World Famous Fried Chicken, Replublique, and much more.

Investment Highlights

  • The subject property was built in 1933, featuring eight units located in the Country Club Park neighborhood between Olympic Blvd and Pico Boulevard, just south of Wilshire Park.
  • The property totals 6,634 SF featuring a unit mix that includes four two-bedroom and four one bedroom units. Offered at a 4.07% CAP rate on current income, additional rental upside of 28%.
  • Low utilities as tenants are responsible for waste removal with individual trash bins; the building is also separately metered for gas and electricity.
  • The units boast dual entrances, hardwood floors throughout, tile floor in the kitchen and bathroom, updated kitchen cabinets, modern appliances (gas oven with designer range top, refrigerator, and microwave) and granite countertops.
  • The building is set on a 13,301 SF lot with community landscaped front yard with a water fountain. Furthermore, the property features community laundry. The subject property boasts a high walk score of 87, a "very walkable neighborhood".
  • 1138 Bronson Ave is surrounded by some of the city's most iconic restaurants, nightlife, cafes, and shopping.

Exclusively Listed By

Financing By

Listing Price: $2,650,000

Cap Rate
4.07%
Number of Units
8
Price/Unit
$331,250
Price/Gross SF
$199.23
Gross SF
13,301

Investment Highlights

  • The subject property was built in 1933, featuring eight units located in the Country Club Park neighborhood between Olympic Blvd and Pico Boulevard, just south of Wilshire Park.
  • The property totals 6,634 SF featuring a unit mix that includes four two-bedroom and four one bedroom units. Offered at a 4.07% CAP rate on current income, additional rental upside of 28%.
  • Low utilities as tenants are responsible for waste removal with individual trash bins; the building is also separately metered for gas and electricity.
  • The units boast dual entrances, hardwood floors throughout, tile floor in the kitchen and bathroom, updated kitchen cabinets, modern appliances (gas oven with designer range top, refrigerator, and microwave) and granite countertops.
  • The building is set on a 13,301 SF lot with community landscaped front yard with a water fountain. Furthermore, the property features community laundry. The subject property boasts a high walk score of 87, a "very walkable neighborhood".
  • 1138 Bronson Ave is surrounded by some of the city's most iconic restaurants, nightlife, cafes, and shopping.

Investment Overview

The Neema Group of Marcus & Millichap is pleased to present 1138 S Bronson Avenue, Los Angeles. CA 90019. Built in 1933, this 8-unit property is in the premier Country Club Park neighborhood, located between Olympic Blvd and Pico Boulevard, just south of Wilshire Park. 1138 S Bronson Ave is surrounded by some of the city’s most iconic restaurants, nightlife, cafes, and shopping. 1138 Bronson Avenue totals 6,634 SF featuring a unit mix that includes four two-bedrooms and four one-bedroom units. This is a prime opportunity for an investor to acquire a building with strong in-place income with additional rental upside of 28%. The subject property is being offered at a 4.07% CAP rate on current income. Additionally, tenants are responsible for waste removal with individual trash bins and the building is separately metered for gas and electricity. The units boast dual entrances, hardwood floors throughout, tile floor in the kitchen and bathroom, updated kitchen cabinets, modern appliances (gas oven with designer range top, refrigerator, and microwave) and granite countertops. The units also feature large closets, air-conditioning, and ceiling fans. The building is set on a 13,301 SF lot with community landscaped front yard with a water fountain. Furthermore, the property features community laundry and eight parking spaces in covered garages. Country Club Park is one of the most historic submarkets in Los Angeles and a destination for ethnic cuisine. The subject property boasts a high walk score of 87, a “very walkable neighborhood”. Extensive dining and nightlife is in close proximity to the building including the original Café El Chole, BCD Tofu House, Gus’s World Famous Fried Chicken, Replublique, and much more.

Exclusively Listed By

Financing By

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