238 E Vernon Ave
Los Angeles, CA 90011
9 Units Built in 2013 | 5.67% CAP · Multifamily Property For Sale · 9 Units

Marcus & Millichap, as the exclusive listing agent, is please to present the opportunity to acquire 238 East Vernon, a nine-unit apartment community that was built in 2013. The property is located in Los Angeles and is located just two miles from the University of Southern California, the seventh largest employer in Los Angeles County. Additionally, the property is located four miles from Staples Center and L.A. Live, and is situated on East Vernon Avenue between Main Street and San Pedro Street. The offering represents a unique opportunity to acquire a newly constructed apartment community with excellent in-place cash ?ow with the ability to strategically increase collections by re-tenanting the property. The property is situated on a 7,631 square foot parcel and features all four-bedroom/two-bath units. Due to its 2013 construction, the building is not subject to Los Angeles Rent Control Statutes. Interior units offer large private balconies and washer/dryer hookups. Additionally, the developer installed Department of Water & Power individual meters and therefore each tenant is billed directly for Water, Sewer, & Power. Investors will have the opportunity to acquire a property at an attractive basis with excellent in-place returns and future upside potential.