4817 St Charles Pl, Los Angeles, CA 90019
15 Unit Apartment Building Offered at $2,340,000 at a 4.02% Cap Rate in Los Angeles, CA 90019
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 25 days
Asking Price $2,340,000
- Property Type
-
Multifamily
- Square Feet
- 6,520 SF
Listing Contacts
Sean Rosenzweig
Property Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 15-unit apartment community located at 4817-4845 St Charles Place. The subject property is located just south of Venice Boulevard and east of La Brea Avenue across three contiguous parcels totaling 14,378 square feet. This property is being sold as part of a 5 building, 79-unit portfolio that is available individually or any combination as a portfolio purchase.
The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.
Situated on an oversized 14,378 square foot parcel, the property is comprised entirely of studio units. The property has 57% remaining rental upside through unit renovations along with on-site parking and on-site laundry facilities.
4817-4845 St Charles Place presents investors a unique opportunity to acquire an asset with rare low-density construction in a highly sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential and development possibilities, make 4817-4845 St Charles Place an excellent acquisition opportunity.
The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.
Situated on an oversized 14,378 square foot parcel, the property is comprised entirely of studio units. The property has 57% remaining rental upside through unit renovations along with on-site parking and on-site laundry facilities.
4817-4845 St Charles Place presents investors a unique opportunity to acquire an asset with rare low-density construction in a highly sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential and development possibilities, make 4817-4845 St Charles Place an excellent acquisition opportunity.
Property Details
- Year Built
- 1950
- Stories
- 1
- Lot Size (sq. ft)
- 14,375 SF
- Units
- 15
Highlights
- Situated on a 14,378 Square Foot Lot, the Offering is a Rare Low-Density Community in the Center of Los Angeles
- Eligible for ED-1 (per ZIMAS), with Potential to Build up to 87 Units. 100% Affordable Projects may be Eligible for Incentives - Buyer to Verify
- Mid-City is Becoming a Compelling Value-Proposition for Tenants who are Getting Priced out of These Expensive Neighboring Submarkets
- In Close Proximity to World-Class Shopping, Vibrant Restaurants, Museums, Cafes, Bars, Theaters, Grocery Stores, Gyms & Employment Opportunities
- Long Term Ownership - The Subject Property Has Been Owned for 45 Years, Offering a Rare Acquisition Opportunity
- There is 57 Percent Remaining Rental Upside Through Interior Renovations
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