1409 Arlington Ave, Los Angeles, CA 90019
9 Unit Apartment Building | $1,550,000 ($172,222/Unit) | 4.24% Cap Rate | Los Angeles, CA 90019
For Sale
Active
Asking Price $1,550,000
- Property Type
-
Multifamily
- Square Feet
- 5,797 SF
Listing Contacts
Sean Rosenzweig
- Property Info
Property Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 9-unit apartment community located at 1409 Arlington Avenue. The subject property is located south of Pico Boulevard and east of Crenshaw Avenue. 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 a 6,828 square foot parcel, the property is comprised of two studio units, five one-bedroom units, and two two-bedroom units. The property has 64% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities.
1409 Arlington Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1409 Arlington Avenue 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 a 6,828 square foot parcel, the property is comprised of two studio units, five one-bedroom units, and two two-bedroom units. The property has 64% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities.
1409 Arlington Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1409 Arlington Avenue an excellent acquisition opportunity.
Property Details
- Class
- C
- Year Built
- 1964
- Stories
- 2
- Lot Size (sq. ft)
- 6,970 SF
- Units
- 9
Highlights
- There is 64 Percent Remaining Rental Upside Through Interior Renovations
- Surrounded by Desirable Neighborhoods such as Country Club Park, Lafayette Square and Miracle Mile
- Mid-City is Becoming a Compelling Value-Proposition for Tenants who are Getting Priced out of These Expensive Neighboring Submarkets
- The Government Required Seismic Retrofit Work has Already Been Completed, Which Saves a New Investor Substantially in Capital and Time
- In Close Proximity to World-Class Shopping, Vibrant Restaurants, Museums, Cafes, Bars, Theaters, Grocery Stores, Gyms & Employment Opportunities
- Long Term Ownership - Property Has Been Owned for 45 Years, Offering a Rare Acquisition Opportunity
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