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Multifamily

1449 S Point View St

1449 S Point View St, Los Angeles, CA 90035

Listing Price: $3,100,000

Cap Rate
3.18%
Number of Units
9
Occupancy
89.0%
Price/Unit
$344,444
Price/Gross SF
$409.73
Gross SF
7,566

Investment Overview

Marcus and Millichap is pleased to present a nine (9) unit apartment building located at 1449 South Point View Street in Los Angeles, California. The subject property is positioned in a prime Pico / Fairfax location, south of West Pico Boulevard and west of South Fairfax Avenue. Pico / Fairfax is a diverse, dense, and mostly residential neighborhood in the center of Los Angeles. While more affordable than some of its neighbors to the north, this neighborhood continues to experience rapid rates of gentrification. Fairfax Avenue forms the neighborhood’s main artery and is lined with restaurants, cafes and bakeries. Residents of the subject property enjoy the dominant access to commercial corridors on nearby West Pico Boulevard and South Robertson Boulevard. Tenants can walk one (1) block north to West Pico Boulevard to visit Green Table Cafe, Hollywood Pies, and Penguin Fish & Chips. Residents can also walk to La Cienega to visit Wok On Fire, Versailles Cuban, Hasiba, One80 Pizzeria, and LA Burger Bar. Currently, this area has a walk score of 77 but the Los Angeles Metro is currently expanding into the area to make it more commuter friendly. The new Crenshaw/LAX line from north-south is proposed to serve this area. Built in 1965, this property contains a great unit mix of five (5) one-bedroom / one-bathroom units and four (4) two-bedroom / two-bathroom units. All units are within a 7,566 square foot (SF) building. This building includes an on-site laundry common area, and nine (9) covered parking spaces within the carport and tuck-under in the back. The tenants pay for power, electric, and gas and the offering will be delivered with one (1) vacancy. Residents at this subject property enjoy a peaceful, quiet community with dominant access to commercial corridors on West Pico Boulevard and La Cienega Boulevard. The subject property is within walking distance to many synagogues and kosher restaurants. Nearby schools include Mesivta Birkas Yitzchok, Crescent Heights Boulevard Elementary School, and Torat Hayim Hebrew Academy. The closest grocery stores are India Spices & Groceries, M R Drinchich Imports and India Sweets and Spices. Nearby coffee shops include Green Table Cafe and Tea. Nearby restaurants include India Sweets and Spices Parking Lot, Awash Restaurant, and Petite Sara. Robertson Park is a great spot for outdoor recreation and is less than a ten (10) minute walk from the subject property. Situated in a prime Pico / Fairfax location, this offering presents an excellent opportunity for any investor to capitalize leasing with over 58% rental upside potential, and adding value in a gentrifying market adjacent to Beverly Hills.

Investment Highlights

  • Prime Pico / Fairfax Location
  • Adjacent to Beverly Hills
  • Strong Rental Upside Potential - 58% Increase
  • Numerous Developments Under Construction within Blocks of the Property
  • Will Be Delivered with One (1) Vacancy
  • Property is Gated, Secure, & Situated in a Quiet Neighborhood
  • On-Site Laundry Common Area
  • Nine (9) Covered On-Site Parking Spots Available

Exclusively Listed By

Financing By

Multifamily

1449 S Point View St

Listing Price: $3,100,000

Cap Rate
3.18%
Number of Units
9
Occupancy
89.0%
Price/Unit
$344,444
Price/Gross SF
$409.73
Gross SF
7,566

Investment Highlights

  • Prime Pico / Fairfax Location
  • Adjacent to Beverly Hills
  • Strong Rental Upside Potential - 58% Increase
  • Numerous Developments Under Construction within Blocks of the Property
  • Will Be Delivered with One (1) Vacancy
  • Property is Gated, Secure, & Situated in a Quiet Neighborhood
  • On-Site Laundry Common Area
  • Nine (9) Covered On-Site Parking Spots Available

Investment Overview

Marcus and Millichap is pleased to present a nine (9) unit apartment building located at 1449 South Point View Street in Los Angeles, California. The subject property is positioned in a prime Pico / Fairfax location, south of West Pico Boulevard and west of South Fairfax Avenue. Pico / Fairfax is a diverse, dense, and mostly residential neighborhood in the center of Los Angeles. While more affordable than some of its neighbors to the north, this neighborhood continues to experience rapid rates of gentrification. Fairfax Avenue forms the neighborhood’s main artery and is lined with restaurants, cafes and bakeries. Residents of the subject property enjoy the dominant access to commercial corridors on nearby West Pico Boulevard and South Robertson Boulevard. Tenants can walk one (1) block north to West Pico Boulevard to visit Green Table Cafe, Hollywood Pies, and Penguin Fish & Chips. Residents can also walk to La Cienega to visit Wok On Fire, Versailles Cuban, Hasiba, One80 Pizzeria, and LA Burger Bar. Currently, this area has a walk score of 77 but the Los Angeles Metro is currently expanding into the area to make it more commuter friendly. The new Crenshaw/LAX line from north-south is proposed to serve this area. Built in 1965, this property contains a great unit mix of five (5) one-bedroom / one-bathroom units and four (4) two-bedroom / two-bathroom units. All units are within a 7,566 square foot (SF) building. This building includes an on-site laundry common area, and nine (9) covered parking spaces within the carport and tuck-under in the back. The tenants pay for power, electric, and gas and the offering will be delivered with one (1) vacancy. Residents at this subject property enjoy a peaceful, quiet community with dominant access to commercial corridors on West Pico Boulevard and La Cienega Boulevard. The subject property is within walking distance to many synagogues and kosher restaurants. Nearby schools include Mesivta Birkas Yitzchok, Crescent Heights Boulevard Elementary School, and Torat Hayim Hebrew Academy. The closest grocery stores are India Spices & Groceries, M R Drinchich Imports and India Sweets and Spices. Nearby coffee shops include Green Table Cafe and Tea. Nearby restaurants include India Sweets and Spices Parking Lot, Awash Restaurant, and Petite Sara. Robertson Park is a great spot for outdoor recreation and is less than a ten (10) minute walk from the subject property. Situated in a prime Pico / Fairfax location, this offering presents an excellent opportunity for any investor to capitalize leasing with over 58% rental upside potential, and adding value in a gentrifying market adjacent to Beverly Hills.

Exclusively Listed By

Financing By

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