Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale a unique value-add opportunity located at 461 South Savannah Street. The six unit building is comprised of all two-bedroom/one-bath units. This property is located in the up-and-coming Boyle Heights neighborhood, which is minutes east of Downtown Los Angeles.
The subject property sits on South Savannah Street, three blocks east of Soto Street and one block south of 4th Street. Tenants of the building benefit from immediate access to the 10 freeway, and less than a 13 minute bike ride to the Art's District of Downtown Los Angeles. Additionally, the Gold Line Station at Soto Street is only a 16 minute walk and gives access to employment hubs throughout the Los Angeles MSA.
The Sixth Street Viaduct estimates completion early 2022 and will add another thoroughfare into the Arts District. The $482 million-dollar project will cross over a new public park. The much-discussed effort to restore the Los Angeles River continues to drive new development in the surrounding neighborhoods as eight firms compete to restore the section of the river that runs between Downtown Los Angeles and Boyle Heights.
461 South Savannah offers an investor the rare opportunity to add value to a vintage building in the heart of an emerging neighborhood. This area is predominately comprised of attractive single-family homes and surrounded by increasingly popular restaurants, retail and entertainment venues, which draws a wide range of creative professional tenants.
