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Multifamily

5123 Marathon St

5123 Marathon St, Los Angeles, CA 90038

Listing Price: $1,800,000

Cap Rate
3.58%
Number of Units
8
Price/Unit
$225,000
Price/Gross SF
$445.32
Gross SF
4,042

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 5123 Marathon Street, a charming eight-unit property located between Santa Monica Boulevard and Melrose Avenue in the Hollywood neighborhood of Los Angeles, CA. The asset, which occupies over 4,000 square feet on a 7,505 square foot lot, may provide an opportunity for accessory dwelling units (ADUs) on the parcel (Buyer to verify). All eight units are studios, and range from 440 to 505 square feet. At only $228,125 per unit, a new investor can capitalize on this value-add opportunity by implementing upgrades and capturing approximately 30% in rental upside. Built in 1925, this property has been well-maintained and modernized. The tenants enjoy a clean unit with ample parking and easy access to the many attractions in Los Angeles. Centrally located between Hollywood, Larchmont Village, Los Feliz, and Silver Lake, there should never be a shortage of local shopping, dining, and entertainment destinations. This property is primed to follow the ongoing trend of investment in the Hollywood area. Within less than one mile of 5123 Marathon Street, there are multiple new developments and largescale renovations. Included in these projects are 4868 Melrose Avenue, 4926 Melrose Avenue, and the full renovation of the Jardinette Apartments at 5128 Marathon Street, which is located directly across the street. This area has seen a large influx of investment over the past years, coinciding with a significant rise in multifamily rents.

Investment Highlights

  • Excellent Location Between Santa Monica Blvd and Melrose Ave -- Short Distance from Hollywood Walk of Fame, Larchmont Village, Silver Lake, and Los Feliz
  • Attractive Value-Add Opportunity -- Only $228,125 per Unit with Approximately 30% in Rental Upside
  • Possibility to Construct ADU with a 7,500+ SF Lot (Buyer to Verify)
  • Abundance of On-Site Parking
  • Easy Access to the 101 Freeway – Short Drive to Both Downtown LA and Studio City
  • Located Close to Prime Silver Lake and the Shops on Larchmont
  • Not on Seismic Retrofit List (Buyer to Verify)
  • Wave of Investments into Hollywood Prior to the Market Emerging from the Pandemic -- Well Over $1 Billion in Real Estate Sales in Past Year

Exclusively Listed By

Financing By

Multifamily

5123 Marathon St

Listing Price: $1,800,000

Cap Rate
3.58%
Number of Units
8
Price/Unit
$225,000
Price/Gross SF
$445.32
Gross SF
4,042

Investment Highlights

  • Excellent Location Between Santa Monica Blvd and Melrose Ave -- Short Distance from Hollywood Walk of Fame, Larchmont Village, Silver Lake, and Los Feliz
  • Attractive Value-Add Opportunity -- Only $228,125 per Unit with Approximately 30% in Rental Upside
  • Possibility to Construct ADU with a 7,500+ SF Lot (Buyer to Verify)
  • Abundance of On-Site Parking
  • Easy Access to the 101 Freeway – Short Drive to Both Downtown LA and Studio City
  • Located Close to Prime Silver Lake and the Shops on Larchmont
  • Not on Seismic Retrofit List (Buyer to Verify)
  • Wave of Investments into Hollywood Prior to the Market Emerging from the Pandemic -- Well Over $1 Billion in Real Estate Sales in Past Year

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 5123 Marathon Street, a charming eight-unit property located between Santa Monica Boulevard and Melrose Avenue in the Hollywood neighborhood of Los Angeles, CA. The asset, which occupies over 4,000 square feet on a 7,505 square foot lot, may provide an opportunity for accessory dwelling units (ADUs) on the parcel (Buyer to verify). All eight units are studios, and range from 440 to 505 square feet. At only $228,125 per unit, a new investor can capitalize on this value-add opportunity by implementing upgrades and capturing approximately 30% in rental upside. Built in 1925, this property has been well-maintained and modernized. The tenants enjoy a clean unit with ample parking and easy access to the many attractions in Los Angeles. Centrally located between Hollywood, Larchmont Village, Los Feliz, and Silver Lake, there should never be a shortage of local shopping, dining, and entertainment destinations. This property is primed to follow the ongoing trend of investment in the Hollywood area. Within less than one mile of 5123 Marathon Street, there are multiple new developments and largescale renovations. Included in these projects are 4868 Melrose Avenue, 4926 Melrose Avenue, and the full renovation of the Jardinette Apartments at 5128 Marathon Street, which is located directly across the street. This area has seen a large influx of investment over the past years, coinciding with a significant rise in multifamily rents.

Exclusively Listed By

Financing By

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