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Multifamily

911 Alandele Ave

911 Alandele Ave, Los Angeles, CA 90036

Listing Price: $2,579,900

Cap Rate
3.75%
Number of Units
6
Occupancy
66.7%
Price/Unit
$429,983
Price/Gross SF
$468.31
Gross SF
5,509

Investment Overview

Marcus and Millichap is pleased to present a six (6) unit apartment building located at 911 Alandele Avenue in Los Angeles, California. The subject property is situated in a prime Miracle Mile location, just northeast of the intersection of West Olympic and San Vicente Boulevards. Miracle Mile is best known as LA’s Museum Row and an increasingly pedestrian-friendly neighborhood. Situated south of Beverly Grove, Miracle Mile is a rapidly developing area in full swing, with the surrounding area undergoing expansive change in preparation for the Los Angeles Olympic Games in Summer 2028. Miracle Mile has a long and rich history in Los Angeles, widely regarded as one of the first trendy retail destinations south of Hollywood, dating back to the early 1900’s. Today, the iconic commercial district is home to the Los Angeles County Museum of Art (LACMA), the Petersen Automotive Museum, the Academy Museum of Motion Pictures, and the La Brea Tar Pits. Posh interior design shops, label-conscious fashion boutiques, and refined restaurants line the adjacent roads of La Brea Ave, Beverly Blvd, and W 3rd St, but the low-key residential vibe makes this a great place to connect with locals. The subject property is situated adjacent to the bustling intersection of S San Vicente Blvd, S Fairfax Ave and W Olympic Blvd. Here, residents can visit the Olympia Medical Center, Fortune House Chinese Cuisine, Merkato takeout, Messob Ethiopian takeout, Hansen’s Cakes, and LA Metro Stations. Built in 1938, this rare offering contains a streamlined unit mix of six (6) uniquely charming one-bedroom/one-bathroom units in a 5,500 SF building on a nearly an 8,500 square foot lot. The property is situated on a wide street where street parking is permitted. Two (2) units will be delivered vacant. Each one-bedroom unit boasts 900-1,000 livable square feet each, featuring spacious living rooms, large master bedrooms, formal dining areas, and plenty of built-in storage space throughout. These character units include original fireplaces, hardwood flooring, gorgeous moldings, unique archways, and original custom tile work. Each unit comes fully equipped with separated showers and tubs, in-unit washer/dryers, refrigerators, and stove/oven combos. All units are incredibly bright with tons of windows letting in natural light, including floor to ceiling windows in the living rooms and dual entrances in front and back as each unit runs the width of the building. The vintage building boasts classic French Normandy architecture and well-maintained character features. The property is very well-maintained with bright green front and back yards. The backyard also features a central gated, shared patio space that is perfect for tenants to enjoy picnics and barbeques. There are garages located on either side of the backyard/patio. Each side includes one (1) one-car garage and one (1) two-car garage, totaling six (6) garage parking spaces (no soft-story retrofit required) plus additional space for parking in uncovered spaces on-site. There is an option to add at least one (1) ADU in the back. Situated in a prime Miracle Mile location, this offering presents an excellent opportunity for a value-add investor to capitalize on a charming French-Normandy building with strong built-in rental upside, in one of Los Angeles’ most historic rental pockets.

Investment Highlights

  • Prime Miracle Mile Location
  • Strong Rental Upside Potential
  • Huge Units on a Large Lot – Averaging 917 SF Each
  • Streamlined Unit Mix of Large 1-Bed/1-Bath Units
  • Option to Add at Least One (1) ADU in the Back
  • Walking Distance to CBS' Television City Currently Undergoing a $1.25 Billion Redevelopment (TVC 2050)
  • Charming French Normandie Architecture & Well-Maintained Character Features
  • Six (6) Garage Parking Spaces Plus Additional On-Site Parking (No Soft-Story Required)

Exclusively Listed By

Listing Price: $2,579,900

Cap Rate
3.75%
Number of Units
6
Occupancy
66.7%
Price/Unit
$429,983
Price/Gross SF
$468.31
Gross SF
5,509

Investment Highlights

  • Prime Miracle Mile Location
  • Strong Rental Upside Potential
  • Huge Units on a Large Lot – Averaging 917 SF Each
  • Streamlined Unit Mix of Large 1-Bed/1-Bath Units
  • Option to Add at Least One (1) ADU in the Back
  • Walking Distance to CBS' Television City Currently Undergoing a $1.25 Billion Redevelopment (TVC 2050)
  • Charming French Normandie Architecture & Well-Maintained Character Features
  • Six (6) Garage Parking Spaces Plus Additional On-Site Parking (No Soft-Story Required)

Investment Overview

Marcus and Millichap is pleased to present a six (6) unit apartment building located at 911 Alandele Avenue in Los Angeles, California. The subject property is situated in a prime Miracle Mile location, just northeast of the intersection of West Olympic and San Vicente Boulevards. Miracle Mile is best known as LA’s Museum Row and an increasingly pedestrian-friendly neighborhood. Situated south of Beverly Grove, Miracle Mile is a rapidly developing area in full swing, with the surrounding area undergoing expansive change in preparation for the Los Angeles Olympic Games in Summer 2028. Miracle Mile has a long and rich history in Los Angeles, widely regarded as one of the first trendy retail destinations south of Hollywood, dating back to the early 1900’s. Today, the iconic commercial district is home to the Los Angeles County Museum of Art (LACMA), the Petersen Automotive Museum, the Academy Museum of Motion Pictures, and the La Brea Tar Pits. Posh interior design shops, label-conscious fashion boutiques, and refined restaurants line the adjacent roads of La Brea Ave, Beverly Blvd, and W 3rd St, but the low-key residential vibe makes this a great place to connect with locals. The subject property is situated adjacent to the bustling intersection of S San Vicente Blvd, S Fairfax Ave and W Olympic Blvd. Here, residents can visit the Olympia Medical Center, Fortune House Chinese Cuisine, Merkato takeout, Messob Ethiopian takeout, Hansen’s Cakes, and LA Metro Stations. Built in 1938, this rare offering contains a streamlined unit mix of six (6) uniquely charming one-bedroom/one-bathroom units in a 5,500 SF building on a nearly an 8,500 square foot lot. The property is situated on a wide street where street parking is permitted. Two (2) units will be delivered vacant. Each one-bedroom unit boasts 900-1,000 livable square feet each, featuring spacious living rooms, large master bedrooms, formal dining areas, and plenty of built-in storage space throughout. These character units include original fireplaces, hardwood flooring, gorgeous moldings, unique archways, and original custom tile work. Each unit comes fully equipped with separated showers and tubs, in-unit washer/dryers, refrigerators, and stove/oven combos. All units are incredibly bright with tons of windows letting in natural light, including floor to ceiling windows in the living rooms and dual entrances in front and back as each unit runs the width of the building. The vintage building boasts classic French Normandy architecture and well-maintained character features. The property is very well-maintained with bright green front and back yards. The backyard also features a central gated, shared patio space that is perfect for tenants to enjoy picnics and barbeques. There are garages located on either side of the backyard/patio. Each side includes one (1) one-car garage and one (1) two-car garage, totaling six (6) garage parking spaces (no soft-story retrofit required) plus additional space for parking in uncovered spaces on-site. There is an option to add at least one (1) ADU in the back. Situated in a prime Miracle Mile location, this offering presents an excellent opportunity for a value-add investor to capitalize on a charming French-Normandy building with strong built-in rental upside, in one of Los Angeles’ most historic rental pockets.

Exclusively Listed By

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