5622 La Mirada Ave - Apartments FOR SALE


Los Angeles, CA 90038
$2,400,000 USD
213-943-1897
5622 La Mirada Ave, Los Angeles, CA for Sale
$2,400,000 USD
Apartments - FOR SALE
1/18
null | 5.13% Cap Rate

5622 La Mirada Ave
Los Angeles, CA 90038


HIGHLIGHTS

  • Required Seismic Retrofit Work Has Been Completed, Saving a New Investor Significant Capital and Time While Allowing for Future Capital Surcharges
  • Over 16% Remaining Rental Upside Through Further Interior Renovations and Turning the Unrenovated Units
  • Located in a Designated Opportunity Zone and May Be Eligible for Preferential Tax Treatment
  • 90 Walk Score - Walker’s Paradise. Near Hollywood Boulevard, Paramount Studios, Netflix Office, Larchmont Village, and More.

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 present the opportunity to acquire 5622 La Mirada Avenue. The subject property is a nine-unit multifamily building located in Hollywood, just south of Sunset Boulevard and west of Western Avenue. Hollywood continues catering to young professionals due to its proximity to a vibrant and lively nightlife scene along with trendy retail and coffee shops. La Mirada Avenue is considered a “Walker’s Paradise” with a 90 Walk Score and is situated a short distance from highly desirable dining and entertaining destinations. Current ownership has renovated approximately 67% of the units at the property with high-end finishes including new countertops, in-unit washer/dryers (select units), new laminate flooring, and new stainless-steel appliances. The property offers investors a unique opportunity to acquire a well-maintained asset with remaining rental upside.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$355 USD /SF

# OF UNITS

9

PRICE/UNIT

$266,667

CAP RATE

5.13%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

9 Units in Hollywood with Remaining Value-Add

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,500 SF

ZONING

LAR3

APN/PARCEL ID

5536-004-006

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.