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Multifamily

6142 & 6148 Afton Pl

6142 Afton Pl, Los Angeles, CA 90028

Listing Price: $4,680,000

Cap Rate
1.28%
Number of Units
7
Occupancy
97.0%
Price/Unit
$668,571
Price/Gross SF
$621.84
Gross SF
7,526

Investment Overview

Marcus & Millichap is pleased to present 6142 & 6148 Afton Place in Los Angeles, CA. 6142 Afton Place is a six (6) unit multi-family building built in 1963 containing approximately 5,587 square feet. The property is located on approximately 6,999 square feet of land area. 6148 Afton Place, a 1921 Tudor-Revival Style two-story single-family residence, contains approximately 1,939 square feet of original constructed building area that includes 4 bedrooms and two bathrooms with approximately 10,339 square feet of land area. The Tudor Revival style of 6148 Afton Place is easily identified with its steeply pitched roofs, multiple gables and decorative side chimney. Almost always constructed with stucco, masonry, ornamental stone, brickwork facades and landscaping, this Tudor-Revival structure teams with beauty. A local architect has prepared preliminary conceptual drawings identifying the opportunity to add a four (4) story 12-unit apartment building to the rear of the single-family residence with the front façade and grand entrance of the residence remaining. Prospective buyers must conduct their own due diligence with all relevant governmental authorities in reference to the potential redevelopment opportunities available with this property. The existing six (6) unit apartment building will require renovation work with the potential to raise rents to market rates. These two properties are located in the heart of Hollywood, CA, just minutes from the world-famous Hollywood Walk of Fame, exciting and renowned shopping, dining, studio and entertainment venues on Sunset, Hollywood, Wilshire and Santa Monica Boulevard with convenient mass local and regional transportation nearby. Easy access to the Interstate (101) and (10) Freeways, minutes to Downtown LA, Staples Center, LA Live as well as other world-renowned locations such as Santa Monica, Beverly Hills, Century City and LAX International Airport.

Investment Highlights

  • Great Redevelopment and Upside Opportunity
  • TOC Tier 3 and Zoning R3-1XL
  • Corner Lot
  • Located in the Qualified California Opportunity Zone
  • Central Hollywood Location
  • Minutes to World-Class Shopping, Dining, and Entertainment
  • Easy Access to Interstate Freeways and Convenient Local and Regional Mass Public Transportation

Exclusively Listed By

Financing By

Multifamily

6142 & 6148 Afton Pl

Listing Price: $4,680,000

Cap Rate
1.28%
Number of Units
7
Occupancy
97.0%
Price/Unit
$668,571
Price/Gross SF
$621.84
Gross SF
7,526

Investment Highlights

  • Great Redevelopment and Upside Opportunity
  • TOC Tier 3 and Zoning R3-1XL
  • Corner Lot
  • Located in the Qualified California Opportunity Zone
  • Central Hollywood Location
  • Minutes to World-Class Shopping, Dining, and Entertainment
  • Easy Access to Interstate Freeways and Convenient Local and Regional Mass Public Transportation

Investment Overview

Marcus & Millichap is pleased to present 6142 & 6148 Afton Place in Los Angeles, CA. 6142 Afton Place is a six (6) unit multi-family building built in 1963 containing approximately 5,587 square feet. The property is located on approximately 6,999 square feet of land area. 6148 Afton Place, a 1921 Tudor-Revival Style two-story single-family residence, contains approximately 1,939 square feet of original constructed building area that includes 4 bedrooms and two bathrooms with approximately 10,339 square feet of land area. The Tudor Revival style of 6148 Afton Place is easily identified with its steeply pitched roofs, multiple gables and decorative side chimney. Almost always constructed with stucco, masonry, ornamental stone, brickwork facades and landscaping, this Tudor-Revival structure teams with beauty. A local architect has prepared preliminary conceptual drawings identifying the opportunity to add a four (4) story 12-unit apartment building to the rear of the single-family residence with the front façade and grand entrance of the residence remaining. Prospective buyers must conduct their own due diligence with all relevant governmental authorities in reference to the potential redevelopment opportunities available with this property. The existing six (6) unit apartment building will require renovation work with the potential to raise rents to market rates. These two properties are located in the heart of Hollywood, CA, just minutes from the world-famous Hollywood Walk of Fame, exciting and renowned shopping, dining, studio and entertainment venues on Sunset, Hollywood, Wilshire and Santa Monica Boulevard with convenient mass local and regional transportation nearby. Easy access to the Interstate (101) and (10) Freeways, minutes to Downtown LA, Staples Center, LA Live as well as other world-renowned locations such as Santa Monica, Beverly Hills, Century City and LAX International Airport.

Exclusively Listed By

Financing By

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