1609 Oak St - Apartments FOR SALE


Los Angeles, CA 90015- Pico-Union
$910,000 USD
213-943-1897
1609 Oak St, Los Angeles, CA for Sale
$910,000 USD
Apartments - FOR SALE
1/5
null | 4.96% Cap Rate

1609 Oak St
Los Angeles, CA 90015
Pico-Union


HIGHLIGHTS

  • Located in a Designated Opportunity Zone and May be Eligible for Preferential Tax Treatment
  • There is 40 Percent Remaining Rental Upside Through Interior Renovations
  • Located in a Dense Pocket Approximately 0.9 Miles from LA Live & Crypto Arena. With a Walk Score of 78, Most Errands can be Accomplished on Foot
  • In Close Proximity to Major Venues for the 2028 LA Olympics, including the LA Coliseum, Crypto.com Arena, & BMO Stadium
  • Family Owned & Operated for the Last 11 Years
  • Located in the Path of Future Growth between Downtown Los Angeles, West Adams & Koreatown

OVERVIEW

DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a six-unit apartment community located at 1609 Oak Street. The subject property is located west of the 110 Freeway and south of Venice Boulevard. Situated on a 4,745 square foot parcel, the property is comprised of two studios and four one-bedroom units. The property has 40% remaining rental upside through unit renovations. 1609 Oak Street presents investors a unique opportunity to acquire an asset with a strong value-add component and the opportunity to capitalize on the westward expansion and revitalization of the Downtown sub-market. Located in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is a short distance from venues in the “Downtown Sports Park”, Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium, & more, which bode well for the long term prospects of this neighborhood.

FOR SALE DETAILS

PRICE

$910,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

6

PRICE/UNIT

$151,667

CAP RATE

4.96%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

A 6-Unit Value-Add Apartment Near DTLA

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,745 SF

ZONING

M1

APN/PARCEL ID

5135-028-014

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.