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Multifamily

501 E 23rd St

501 E 23rd St, Los Angeles, CA 90011

Listing Price: $1,950,000

Cap Rate
4.10%
Number of Units
10
Price/Unit
$195,000
Price/Gross SF
$179.69
Gross SF
10,852

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 501 East 23rd Street, a 10-unit (9 + 1 Storefront) building in Los Angeles. The property is located in Los Angeles and is located just two miles from the University of Southern California, the seventh largest employer in Los Angeles County. Additionally, the property is located two miles from Staples Center and L.A. Live. The offering represents a unique opportunity to acquire a value-add investment with 41% upside through unit renovations. The property is situated on a 10,852 square foot parcel and features one single, four one-bedroom units, four two-bedroom units and one storefront retail. Investors will have the opportunity to acquire a property at an attractive basis with value-add potential.

Investment Highlights

  • Priced at $180 per Square Foot, 501 East 23rd Street Offers a Low Entry Point
  • Close Proximity to Downtown Los Angeles and Major Employment Centers
  • 41% Rental Upside Through Unit Renovations with Rents at Market
  • Affordable Rents Compared to the Neighboring Submarkets of Downtown Los Angeles and USC

Exclusively Listed By

Listing Price: $1,950,000

Cap Rate
4.10%
Number of Units
10
Price/Unit
$195,000
Price/Gross SF
$179.69
Gross SF
10,852

Investment Highlights

  • Priced at $180 per Square Foot, 501 East 23rd Street Offers a Low Entry Point
  • Close Proximity to Downtown Los Angeles and Major Employment Centers
  • 41% Rental Upside Through Unit Renovations with Rents at Market
  • Affordable Rents Compared to the Neighboring Submarkets of Downtown Los Angeles and USC

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 501 East 23rd Street, a 10-unit (9 + 1 Storefront) building in Los Angeles. The property is located in Los Angeles and is located just two miles from the University of Southern California, the seventh largest employer in Los Angeles County. Additionally, the property is located two miles from Staples Center and L.A. Live. The offering represents a unique opportunity to acquire a value-add investment with 41% upside through unit renovations. The property is situated on a 10,852 square foot parcel and features one single, four one-bedroom units, four two-bedroom units and one storefront retail. Investors will have the opportunity to acquire a property at an attractive basis with value-add potential.

Exclusively Listed By

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