4817 St Charles Pl - Apartments FOR SALE


Los Angeles, CA 90019- Mid-City
$2,340,000 USD
213-943-1897
4817 St Charles Pl, Los Angeles, CA for Sale
$2,340,000 USD
Apartments - FOR SALE
1/4
null | 4.07% Cap Rate

4817 St Charles Pl
Los Angeles, CA 90019
Mid-City


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 for up to 87 units. 100% affordable projects may qualify for incentives—buyer to verify
  • Mid-City offers a strong value proposition for tenants priced out of nearby upscale areas like Country Club Park, Lafayette Square, and Miracle Mile.
  • Close to world-class shopping, dining, entertainment, and job hubs in Mid-City, Miracle Mile, West Adams, and Koreatown.
  • Long Term Ownership - The Subject Property Has Been Owned for 45 Years, Offering a Rare Acquisition Opportunity
  • There is 47 Percent Remaining Rental Upside Through Interior Renovations

OVERVIEW

PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. 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. 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 47% 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.

FOR SALE DETAILS

PRICE

$2,340,000 USD

PRICE/SF

$359 USD /SF

# OF UNITS

15

PRICE/UNIT

$156,000

CAP RATE

4.07%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

15-Unit Value-Add in Mid-City | 14,378 SF Lot

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,378 SF

ZONING

LAR1.5

APN/PARCEL ID

5067-007-001,5067-007-002,5067-007-003

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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