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Multifamily

815 N Benton Way

815 N Benton Way, Los Angeles, CA 90026

Listing Price: $2,250,000

Cap Rate
1.83%
Number of Units
9
Price/Unit
$250,000
Price/Gross SF
$334.42
Gross SF
6,728

Investment Overview

Marcus & Millichap, as the Exclusive listing agent, is pleased to present for sale 815 North Benton Way, a nine-unit apartment community located just steps from vibrant Sunset Junction. As one of Los Angeles’ most walkable neighborhoods, this submarket’s popularity and rental demand has grown significantly over the years with artisanal coffee shops, headlined by popular chain, Intelligentsia, in the immediate area. It has become clear that the all-day foot traffic, desirability and growth of the area is on an undeniable trajectory. Built in 1965, Benton Way consists of three one-bedroom units and six two-bedroom units with partial on-site parking. Current tenants are paying an average rent of $841, which is $1,792 below the market rates similar properties are asking for in the immediate area. By bringing in-place rents to market rates and capturing the estimated 164% rental upside, a savvy investor can generate an unprecedented 9.01% CAP and 7.91 GRM for this investment. Investors will have the opportunity to implement a comprehensive interior and exterior renovation program to re-position the property and increase rental income. 815 North Benton is well positioned to provide remarkable rental upside and appreciation potential.

Investment Highlights

  • Just Steps from Many of the City's Most Popular Boutique Restaurants, Bars and Coffee Shops
  • 164% Rental Upside Through Unit Renovations with Rents at Market and Possibility to Achieve a 9.01% CAP Rate and a 7.91 GRM
  • First Time on the Market in Over 50 Years – A True Generational Asset
  • The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership Which Saves a New Investor Substantially in Capital and Time While Also Being Able to Take Advantage of Future Capital Surcharges

Exclusively Listed By

Multifamily

815 N Benton Way

Listing Price: $2,250,000

Cap Rate
1.83%
Number of Units
9
Price/Unit
$250,000
Price/Gross SF
$334.42
Gross SF
6,728

Investment Highlights

  • Just Steps from Many of the City's Most Popular Boutique Restaurants, Bars and Coffee Shops
  • 164% Rental Upside Through Unit Renovations with Rents at Market and Possibility to Achieve a 9.01% CAP Rate and a 7.91 GRM
  • First Time on the Market in Over 50 Years – A True Generational Asset
  • The Government Required Seismic Retrofit Work has Already Been Completed by Current Ownership Which Saves a New Investor Substantially in Capital and Time While Also Being Able to Take Advantage of Future Capital Surcharges

Investment Overview

Marcus & Millichap, as the Exclusive listing agent, is pleased to present for sale 815 North Benton Way, a nine-unit apartment community located just steps from vibrant Sunset Junction. As one of Los Angeles’ most walkable neighborhoods, this submarket’s popularity and rental demand has grown significantly over the years with artisanal coffee shops, headlined by popular chain, Intelligentsia, in the immediate area. It has become clear that the all-day foot traffic, desirability and growth of the area is on an undeniable trajectory. Built in 1965, Benton Way consists of three one-bedroom units and six two-bedroom units with partial on-site parking. Current tenants are paying an average rent of $841, which is $1,792 below the market rates similar properties are asking for in the immediate area. By bringing in-place rents to market rates and capturing the estimated 164% rental upside, a savvy investor can generate an unprecedented 9.01% CAP and 7.91 GRM for this investment. Investors will have the opportunity to implement a comprehensive interior and exterior renovation program to re-position the property and increase rental income. 815 North Benton is well positioned to provide remarkable rental upside and appreciation potential.

Exclusively Listed By

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