4108 Marathon St - Apartments FOR SALE


Los Angeles, CA 90029- East Hollywood
$8,500,000 USD
213-305-9026
4108 Marathon St, Los Angeles, CA for Sale
$8,500,000 USD
Apartments - FOR SALE
1/12
null | 5.7% Cap Rate

4108 Marathon St
Los Angeles, CA 90029
East Hollywood


HIGHLIGHTS

  • Uber-Hip Location in Virgil Village / Silver Lake
  • Sale Includes 4,255 sf Off-Site Parcel Used for Tenant parking
  • Nineteen of Thirty Units Updated with Modern/Hip Feel
  • 30% Value-Opportunity Possible Through Unit Attrition and Improved Operations
  • Current 5.7% Cap Rate | Market 8.0% Cap Rate
  • Current 11.9 GRM | Market 9.3 GRM

OVERVIEW

KW Commercial, as exclusive advisors, is pleased to present 4056 & 4108 Marathon Street, a 30-unit apartment community plus a separate parking parcel in one of L.A.’s most dynamic rental markets, Silver Lake / Virgil Village, CA (90029). The asset reflects the energy of the local community. It’s a compelling investment opportunity located in the hippest and most happening area of Virgil Village and Sunset Junction. 4108 Marathon Street, built in 1928, offers an exceptional unit composition featuring Twenty-Six (26) Large One Bedroom-One Bathroom and Four (4) Two Bedroom-One Bathroom apartment homes encompassing +/-24,520 square feet of improvements. 4056 Marathon Street is a separate parcel included in the offering and provides 15 vehicle parking spaces. The parcel is zoned RD 1.5 on 4,250 SF of land. Parking lot improvements include new asphalt resurfacing, restriping and new gate/fencing. 4108 Marathon Street has undergone a gut-level renovation of Nineteen (19) of the Thirty (30) apartment homes with completely reimagined interior spaces, new baths and kitchens, gleaming wood floors, new doors, lighting, locks, hardware, and designer finishes throughout. Select 3rd floor apartment homes feature vaulted ceilings, dramatic city lights and skyline views. The common and exterior spaces have undergone a dramatic renovation highlighted by new lobby/hallway/staircase flooring, lighting, laundry facilities; and outdoor spaces. The exterior has been transformed with a new color palate, architectural moldings, awnings, and drought-resistant landscaping. The roof has been upgraded with a cool roof system, and the foundation has recently been retrofitted. 4056 and 4108 Marathon Street are mere steps from Virgil Village, L.A.’s latest hip neighborhood, where those " in the know” frequent Sqirl Cafe, Courage Bagel, Erewhon, along with numerous other entertainment venues. Silver Lake / Virgil Village, CA (90029) is as diverse as the people living in it. Thanks to its neighborhood feel, the area is perfect for young people looking for a dynamic location and a community vibe. The area is continually growing — with an ever-increasing mix of stylish boutiques, restaurants, bars, coffee shops, and everything in between.

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$302 USD /SF

# OF UNITS

30

PRICE/UNIT

$283,333

CAP RATE

5.7%

% LEASED

77%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

30 Units + 15 Car Parking on Separate Parcel

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

R4-2, Los Angeles

APN/PARCEL ID

5539-020-009,5539-021-001

ASK ABOUT THIS PROPERTY

Rich JohnsKW CommercialMore Info
213-305-9026

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Rich JohnsKW CommercialMore Info
213-305-9026

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