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Multifamily

2521 Sichel St

2521 Sichel St, Los Angeles, CA 90031

Listing Price: $1,175,000

Cap Rate
1.68%
Number of Units
5
Occupancy
97.0%
Price/Unit
$235,000
Price/Gross SF
$263.81
Gross SF
4,454

Investment Overview

Marcus & Millichap is pleased to present 2521 Sichel Street, a 5-unit apartment building in the emerging residential neighborhood of Lincoln Heights, just east of Downtown Los Angeles. The property, which consists of two (2) one-bedroom/one-bathroom units, two (2) two-bedroom/two-bathroom and one (1) three-bedroom/one-bathroom unit, provides an investor a tremendous value add opportunity as current rents are approximately 62% below market. Built in 1962, the two buildings are a combined 4,454 square feet and sit on a large 8,904 square foot lot that is LARD2 zoned. The property is located in an Opportunity Zone which offers excellent development potential. The property location offers convenient local access to neighboring Downtown Los Angeles, Highland Park, and Elysian Park. 2521 Sichel Street has a Walk Score of 91 as it is in close proximity to trendy art galleries, bars, restaurants and cafes. and within walking distance to the Lincoln/Cypress Metro Goldline Station, which provides easy access to Pasadena to the east and Union Station to the west. The property is also conveniently located near the 110 and 5 Freeways. Lincoln Heights is considered to be the oldest neighborhood in Los Angeles. In recent years, Lincoln Heights has become a popular location for young professionals who want to live in close proximity to Downtown Los Angeles. Along with this influx of a younger tenant profile has come new art galleries, coffee shops, bars and restaurants. As Downtown Los Angeles continues to grow, the area will undoubtedly continue to improve.

Investment Highlights

  • Value add opportunity in emerging Lincoln Heights neighborhood - over 62% potential upside in rents
  • Potential for new development in Opportunity Zone - 8,904 sf lot/LARD2 zoned
  • Excellent unit mix: (2) 1 bed/1 bath, (2) 2 bed/2 bath and (1) 3 bed/1 bath units
  • Walk Score 91: close proximity to trendy art galleries, bars, restaurants and cafes. Walking distance to Lincoln/Cypress Metro Goldline Station

Exclusively Listed By

Financing By

Multifamily

2521 Sichel St

Listing Price: $1,175,000

Cap Rate
1.68%
Number of Units
5
Occupancy
97.0%
Price/Unit
$235,000
Price/Gross SF
$263.81
Gross SF
4,454

Investment Highlights

  • Value add opportunity in emerging Lincoln Heights neighborhood - over 62% potential upside in rents
  • Potential for new development in Opportunity Zone - 8,904 sf lot/LARD2 zoned
  • Excellent unit mix: (2) 1 bed/1 bath, (2) 2 bed/2 bath and (1) 3 bed/1 bath units
  • Walk Score 91: close proximity to trendy art galleries, bars, restaurants and cafes. Walking distance to Lincoln/Cypress Metro Goldline Station

Investment Overview

Marcus & Millichap is pleased to present 2521 Sichel Street, a 5-unit apartment building in the emerging residential neighborhood of Lincoln Heights, just east of Downtown Los Angeles. The property, which consists of two (2) one-bedroom/one-bathroom units, two (2) two-bedroom/two-bathroom and one (1) three-bedroom/one-bathroom unit, provides an investor a tremendous value add opportunity as current rents are approximately 62% below market. Built in 1962, the two buildings are a combined 4,454 square feet and sit on a large 8,904 square foot lot that is LARD2 zoned. The property is located in an Opportunity Zone which offers excellent development potential. The property location offers convenient local access to neighboring Downtown Los Angeles, Highland Park, and Elysian Park. 2521 Sichel Street has a Walk Score of 91 as it is in close proximity to trendy art galleries, bars, restaurants and cafes. and within walking distance to the Lincoln/Cypress Metro Goldline Station, which provides easy access to Pasadena to the east and Union Station to the west. The property is also conveniently located near the 110 and 5 Freeways. Lincoln Heights is considered to be the oldest neighborhood in Los Angeles. In recent years, Lincoln Heights has become a popular location for young professionals who want to live in close proximity to Downtown Los Angeles. Along with this influx of a younger tenant profile has come new art galleries, coffee shops, bars and restaurants. As Downtown Los Angeles continues to grow, the area will undoubtedly continue to improve.

Exclusively Listed By

Financing By

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