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Multifamily

5952-5960 Benner Street

5952 Benner St, Los Angeles, CA 90042

Listing Price: $5,200,000

Cap Rate
4.40%
Number of Units
14
Price/Unit
$371,429
Price/Gross SF
$530.34
Gross SF
9,805

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer the opportunity to acquire 5952-5960 Benner Street, a 14 unit renovated apartment community located in a thriving pocket of Los Angeles. Situated just South of Figueroa Street and North of the 110 Highway, the subject property is located within the Highland Park submarket. Highland Park is one of the most widely publicized and newly energized communities in Los Angeles.Consisting of two buildings on a 17,879 square foot parcel, the property comprises of six one-bedroom units, and eight two-bedroom units. Current Ownership has extensively renovated 12 units that feature thoughtful design details like sleek stainless-steel appliances, an open concept floorplan, two AC Units, and bright charming flooring throughout. Units also include assigned parking on-site. The property is surrounded by lush landscaping and boasts a community courtyard perfect for entertaining.5952-5960 Benner Street provides investors a rare buying opportunity to acquire a nearly fully renovated apartment community that also offers a value-add component. The property is well-suited to provide a healthy income stream and solid marketing appreciation as the area continues its upward trajectory.

Investment Highlights

  • Located Within One of Los Angeles' Most Desirable Eastside Submarket, Highland Park, Which is Also Adjacent to Pasadena, Montecito Heights, and Eagle Rock
  • The Property Offers Ample Parking With 18 Total Spaces
  • Approximately 21% Upside in Rents Through Unit Renovations for the Remaining Two Units
  • Common Areas and 86% of Unit Interiors Have Been Fully Upgraded with Condo-Quality Renovations That Cater to the Area's Younger Demographic of Creative Professionals
  • Situated on a 17,879 Square Foot Lot, Benner Street is Aligned with the Evolving Needs of Today's Renters – a Low Density Community with Large Common Area Outdoor Space
  • Conveniently Located Near the 110 Freeway and Walking Distance to the Avenue 57 Metro Gold Line – Providing Easy Access to Downtown Los Angeles and Pasadena

Exclusively Listed By

Financing By

Multifamily

5952-5960 Benner Street

Listing Price: $5,200,000

Cap Rate
4.40%
Number of Units
14
Price/Unit
$371,429
Price/Gross SF
$530.34
Gross SF
9,805

Investment Highlights

  • Located Within One of Los Angeles' Most Desirable Eastside Submarket, Highland Park, Which is Also Adjacent to Pasadena, Montecito Heights, and Eagle Rock
  • The Property Offers Ample Parking With 18 Total Spaces
  • Approximately 21% Upside in Rents Through Unit Renovations for the Remaining Two Units
  • Common Areas and 86% of Unit Interiors Have Been Fully Upgraded with Condo-Quality Renovations That Cater to the Area's Younger Demographic of Creative Professionals
  • Situated on a 17,879 Square Foot Lot, Benner Street is Aligned with the Evolving Needs of Today's Renters – a Low Density Community with Large Common Area Outdoor Space
  • Conveniently Located Near the 110 Freeway and Walking Distance to the Avenue 57 Metro Gold Line – Providing Easy Access to Downtown Los Angeles and Pasadena

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer the opportunity to acquire 5952-5960 Benner Street, a 14 unit renovated apartment community located in a thriving pocket of Los Angeles. Situated just South of Figueroa Street and North of the 110 Highway, the subject property is located within the Highland Park submarket. Highland Park is one of the most widely publicized and newly energized communities in Los Angeles.Consisting of two buildings on a 17,879 square foot parcel, the property comprises of six one-bedroom units, and eight two-bedroom units. Current Ownership has extensively renovated 12 units that feature thoughtful design details like sleek stainless-steel appliances, an open concept floorplan, two AC Units, and bright charming flooring throughout. Units also include assigned parking on-site. The property is surrounded by lush landscaping and boasts a community courtyard perfect for entertaining.5952-5960 Benner Street provides investors a rare buying opportunity to acquire a nearly fully renovated apartment community that also offers a value-add component. The property is well-suited to provide a healthy income stream and solid marketing appreciation as the area continues its upward trajectory.

Exclusively Listed By

Financing By

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