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Violet on Virgil 160 S Virgil Ave 302 Unit Apartment Building For Sale Los Angeles, CA 90004
Investment Highlights
- Attainable housing with institutional quality amenities
- Attractive going-in yield with durable in-place cash flow
- Transit-based mobility
- Capturing the most resilient renter segment
- Authentic walkable lifestyle
- Strategic infill location with multi-node demand drivers
Executive Summary
Execute the CA to access due diligence documents at the following link: http://www.violet-cushman.com
ATTAINABLE HOUSING WITH INSTITUTIONAL QUALITY AMENITIES – Violet on Virgil is a two-building podium community that features best-in-class lifestyle amenities including two pools, indoor/outdoor fitness centers, activated courtyards, a resident clubhouse, and social lounges.
CAPTURING THE MOST RESILIENT RENTER SEGMENT – Violet’s rents are priced within an attainable band that aligns with the majority of Los Angeles’ renter base - creating a deep recurring demand pool.
ATTRACTIVE GOING-IN YIELD WITH DURABLE IN-PLACE CASH FLOW – Violet delivers strong in-place cash flow with embedded upside through continued unit renovations and strong projected rent growth.
AUTHENTIC WALKABLE LIFESTYLE – Positioned between Silver Lake and Koreatown, the area has a 24- hour urban pulse with an enviable food scene, an active nightlife district, extensive arts and cultural activities, and an abundance of shopping options.
TRANSIT-BASED MOBILITY – Access to public transit is essential for attracting renters by necessity. Violet is blocks from a Metro Rail station offering immediate connectivity throughout Los Angeles.
STRATEGIC INFILL LOCATION WITH MULTI-NODE DEMAND DRIVERS – The Property’s central location captures numerous employment demand generators including Hollywood, West Hollywood, Silver Lake, Downtown Los Angeles, the Wilshire Corridor, and Culver City.
PROXIMITY TO WORLD-CLASS HEALTHCARE CAMPUSES – Violet on Virgil benefits from its proximity to Children’s Hospital Los Angeles, Kaiser Permanente, and CHA Hollywood Presbyterian Medical Center, which combined employ over 18,000 healthcare professionals.
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 2.78 AC |
| No. Units | 302 | Building Size | 255,850 SF |
| Property Type | Multifamily | Average Occupancy | 89% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1971 |
| Building Class | B | Parking Ratio | 1.54/1,000 SF |
| Zoning | R3, Los Angeles - High Density Residential | ||
| Sale Type | Investment |
| No. Units | 302 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.78 AC |
| Building Size | 255,850 SF |
| Average Occupancy | 89% |
| No. Stories | 3 |
| Year Built | 1971 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | R3, Los Angeles - High Density Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Views
- Wi-Fi
Site Amenities
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Grill
- Package Service
- Elevator
- Lounge
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 107 | - | 427 - 460 |
| 1+1 | 150 | - | 670 |
| 2+2 | 45 | - | 960 |
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
Property Taxes
| Parcel Numbers | Improvements Assessment | $62,547,150 | |
| Land Assessment | $37,704,540 | Total Assessment | $100,251,690 |
Property Taxes
