Marcus & Millichap is pleased to present this 5 unit apartment offering in the Del Rey neighborhood of the Westside of Los Angeles. This unique offering consists of a 3 Bedroom/2 Bath House, and (1) 2 Bedroom / 1 Bath, and (3) 1 Bedroom/1 Bath units. The front house was built in 1953 and the back 4 units were built in 1977. The offering sits on a large 8,109 sf lot zoned LAR1 and features ample parking in both the front and the rear of the property along with storage units that can be rented for additional upside in rental potential. The buildings interior has been well maintained with large units, which coupled with the excellent westside location, offer an investor the opportunity to capture top of the market rents. The owners unit in the front is a large house and offers exclusivity and make this a perfect owner/user opportunity as well as an investment. There is approximately 35% upside in the current rents 1 unit being delivered vacant at the close of escrow.
The building is well located just adjacent to Marina Del Rey and in close proximity to Silicon Beach and other premier Westside neighborhoods. With numerous new developments in the area and the ever increasing demand for rental units on the Westside, the property is well positioned to capture top of the market rents. The tenants enjoy easy access to shops, dining, entertainment and business hubs making this an ideal location to live, work and play.
