819 Beacon Ave, Los Angeles, CA 90017
15 Unit Apartment Building | $2,375,000 ($158,333/Unit) | 5.07% Cap Rate | Los Angeles, CA 90017
For Sale
Active
8 pictures
Asking Price $2,375,000
- Property Type
-
Multifamily
- Square Feet
- 10,340 SF
Listing Contacts
Sebastian Diaz
Oscar Diaz
Property Overview
Marcus & Millichap is proud to present 819 Beacon Ave, a charming 15-unit multifamily property located in the vibrant Westlake neighborhood of Los Angeles. Constructed in 1906, this property comprises a balanced mix of 7 single and 8 one-bedroom units, spread across a building area of 10,340 square feet on a 7,750 square foot lot. Its proximity to the trendy area of Koreatown and the bustling downtown Los Angeles offers investors a unique blend of historical charm and access to a dynamic urban lifestyle, attracting a broad tenant base.
At 819 Beacon Ave, through strategic renovations, investors have the opportunity to capture up to 25% market rental upside. Under the current Los Angeles Rent Stabilization Ordinance (RSO), rents can be increased by 6% annually, ?supporting steady growth in revenue over time. The property’s utility setup also offers a cost-saving opportunity. Since it is master-metered, introducing Ratio Utility Billing Systems (RUBS) for new leases could lower utility expenses significantly, increasing cash flow. Complementing these financial benefits, 819 Beacon Ave boasts a prime location with a 92 Walk Score and an excellent Transit Score of 88. Dubbed a Walker’s Paradise, it offers residents unparalleled convenience with immediate access to a plethora of local amenities, dining, shopping, and entertainment options, enhancing its appeal to a wide tenant base.
The strategic location of 819 Beacon Ave not only ensures easy day-to-day living but also places it near key Los Angeles hubs such as Koreatown, Downtown LA, Hollywood, and Mid-Wilshire. This connectivity adds significantly to its tenant appeal and underpins strong rental demand. Coupled with the potential for aesthetic and functional enhancements, this positions 819 Beacon Ave as a prime investment opportunity in a thriving market.
At 819 Beacon Ave, through strategic renovations, investors have the opportunity to capture up to 25% market rental upside. Under the current Los Angeles Rent Stabilization Ordinance (RSO), rents can be increased by 6% annually, ?supporting steady growth in revenue over time. The property’s utility setup also offers a cost-saving opportunity. Since it is master-metered, introducing Ratio Utility Billing Systems (RUBS) for new leases could lower utility expenses significantly, increasing cash flow. Complementing these financial benefits, 819 Beacon Ave boasts a prime location with a 92 Walk Score and an excellent Transit Score of 88. Dubbed a Walker’s Paradise, it offers residents unparalleled convenience with immediate access to a plethora of local amenities, dining, shopping, and entertainment options, enhancing its appeal to a wide tenant base.
The strategic location of 819 Beacon Ave not only ensures easy day-to-day living but also places it near key Los Angeles hubs such as Koreatown, Downtown LA, Hollywood, and Mid-Wilshire. This connectivity adds significantly to its tenant appeal and underpins strong rental demand. Coupled with the potential for aesthetic and functional enhancements, this positions 819 Beacon Ave as a prime investment opportunity in a thriving market.
Property Details
- Class
- C
- Year Built
- 1906
- Stories
- 2
- Lot Size (sq. ft)
- 7,841 SF
- Units
- 15
Highlights
- Potential to incrementally increase revenue as they are currently 25% below market rates.
- Opportunity to implement Ratio Utility Billing Systems (RUBS) for new leases due to the property’s master-metered status (Buyer to Verify).
- Walk Score of 92 and a Transit Score of 88.
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