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422 South Lake 422 S Lake St 80 Unit Apartment Building $27,500,000 ($343,750/Unit) Los Angeles, CA 90057
Investment Highlights
- 80 Units | Newer Construction
- High-Barrier Urban Infill Location
- Multiple Execution Strategies
Executive Summary
80 Units | Newer Construction:
422 S Lake Apartments is offered at a competitive basis relative to replacement cost.
Multiple Execution Strategies:
A new owner can continue operating 422 S Lake as a market rate apartment with upside potential, or can convert the property to affordable housing.
High-Barrier Urban Infill Location:
Situated in Westlake, a dense, transit-oriented submarket with proximity to the Downtown Los Angeles and Koreatown job base. Koreatown has a dense concentration of healthcare, education, hospitality, and professional service employment opportunities, while Downtown Los Angeles is one of the largest job centers in all of Southern California, employing professionals in healthcare, legal, finance, government, education, and creative sectors.
422 S Lake Apartments is offered at a competitive basis relative to replacement cost.
Multiple Execution Strategies:
A new owner can continue operating 422 S Lake as a market rate apartment with upside potential, or can convert the property to affordable housing.
High-Barrier Urban Infill Location:
Situated in Westlake, a dense, transit-oriented submarket with proximity to the Downtown Los Angeles and Koreatown job base. Koreatown has a dense concentration of healthcare, education, hospitality, and professional service employment opportunities, while Downtown Los Angeles is one of the largest job centers in all of Southern California, employing professionals in healthcare, legal, finance, government, education, and creative sectors.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $27,500,000 | Building Class | B |
| Price Per Unit | $343,750 | Lot Size | 0.76 AC |
| Sale Type | Investment | Building Size | 148,530 SF |
| No. Units | 80 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | LAR4P | ||
| Price | $27,500,000 |
| Price Per Unit | $343,750 |
| Sale Type | Investment |
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.76 AC |
| Building Size | 148,530 SF |
| No. Stories | 5 |
| Year Built | 2018 |
| Opportunity Zone |
Yes |
| Zoning | LAR4P |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer
- Kitchen
- Carpet
- Breakfast Nook
Site Amenities
- Controlled Access
- Fitness Center
- Property Manager on Site
- Gameroom
- Elevator
- Maintenance on site
- Key Fob Entry
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 746 |
| 2+2 | 53 | - | 867 - 905 |
| 3+2 | 15 | - | 1,145 |
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (83)
Property Taxes
| Parcel Number | 5154-030-035 | Improvements Assessment | $26,118,758 |
| Land Assessment | $2,696,886 | Total Assessment | $28,815,644 |
Property Taxes
Parcel Number
5154-030-035
Land Assessment
$2,696,886
Improvements Assessment
$26,118,758
Total Assessment
$28,815,644
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422 South Lake | 422 S Lake St
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