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2939 Brighton Ave 7 Unit Apartment Building $1,350,000 ($192,857/Unit) 6.91% Cap Rate Los Angeles, CA 90018
INVESTMENT HIGHLIGHTS
- Prime West Adams Location
- Value Add Opportunity
- Spacious layouts with (4) 1 Bed / 1 Bath, (2) Studio / 1 Bath, (1) 2 Bed / 2 Bath / Den laid out over 5,316 square feet
- The proximity to West Adams is the main amenity for tenants as they can walk to restaurants and coffee shops including Vicky’s All Day, Mizlala
- Quiet Residential Street
- The property offers a quiet reprieve from the traffic and congestion, but is centrally located to major business hubs
EXECUTIVE SUMMARY
2939 Brighton Ave is a charming 7 unit offering, with 2 units in the front building and 5 bungalow units in the rear of the property. With recent developments and new businesses in the area, it’s location within close proximity to Adams is a major draw for renters.
The James Group is pleased to present 2939 Brighton Ave in the trendy West Adams submarket of Los Angeles just south of Adams and west of Normandie Ave. The subject property is located on one of the more highly desirable streets in the West Adams area on a block consisting of mostly single family homes offering a quiet reprise in the middle of Los Angeles. The property features an excellent unit mix consisting of (4) 1 Bed / 1 Bath, (2) Studio / 1 Bath, and (1) 2 Bed / 2 Bath / Den units on a large 7,100 square foot lot. Within walking distance of Adams including popular restaurants like Vicky’s All Day, Mizlala, Mian, Delicious Pizza, Tartine and Vees Café
The James Group is pleased to present 2939 Brighton Ave in the trendy West Adams submarket of Los Angeles just south of Adams and west of Normandie Ave. The subject property is located on one of the more highly desirable streets in the West Adams area on a block consisting of mostly single family homes offering a quiet reprise in the middle of Los Angeles. The property features an excellent unit mix consisting of (4) 1 Bed / 1 Bath, (2) Studio / 1 Bath, and (1) 2 Bed / 2 Bath / Den units on a large 7,100 square foot lot. Within walking distance of Adams including popular restaurants like Vicky’s All Day, Mizlala, Mian, Delicious Pizza, Tartine and Vees Café
PROPERTY FACTS
| Price | $1,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $192,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.91% | Building Size | 5,316 SF |
| Gross Rent Multiplier | 9.89 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1905 |
| Property Subtype | Apartment | ||
| Zoning | R1, Los Angeles - restricted Density Multiple Dwelling | ||
| Price | $1,350,000 |
| Price Per Unit | $192,857 |
| Sale Type | Investment |
| Cap Rate | 6.91% |
| Gross Rent Multiplier | 9.89 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,316 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1905 |
| Zoning | R1, Los Angeles - restricted Density Multiple Dwelling |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (72)
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2939 Brighton Ave
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