Marcus & Millichap is pleased to present 4024 Coco Ave, Los Angeles, CA 90008. This multi family apartment building was built in 1956 and and is located in the up and coming Baldwin Hills neighborhood. This 2 story building has 19,579 SF of rental space sitting on a 20,298 SF lot. The spacious property features 18 units with a fantastic mix of 7, one bedroom, one bath; 2, two bedroom, one bath; 6, two bedroom, two bath; 2, three bedroom, two bath, and 1, Four bedroom, three and a half bath. The units are well maintained and the building is 73% occupied with 4 units currently vacant. The property also features well manicured landscaping and parking options for tenants. The closest grocery stores are Ralphs and Superior Grocers. Nearby coffee shops include Starbucks, C J's Cafe and City Bean. Nearby restaurants include Cajun's Fabulous Fried Chicken, PIZZA ROSSA and Coliseo Pizzeria. Additionally, the Property is a mile from the new Baldwin Hills Crenshaw Plaza, a $700 million redevelopment project situated on 43 acres of land, which will feature new apartments, condominiums, a hotel, restaurants, retail and office space. Tenants are in close proximity to public transit, and the Metro’s LAX/Crenshaw Line is scheduled to open in mid-2020, connecting neighborhoods of Crenshaw, Baldwin Hills, and Leimert Park to the city of Inglewood and the Los Angeles International Airport (LAX). Additionally, tenants have convenient access to major employment centers including Century City, Culver City, and Downtown Los Angeles. With tremendous rental upside, 4024 Coco Ave will appeal to investors looking for a value-add opportunity in a rapidly developing neighborhood.
