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15-Unit Value-Add in Mid-City | 14,378 SF Lot 4817 St Charles Pl 15 Unit Apartment Building $1,990,000 ($132,667/Unit) 4.36% Cap Rate Los Angeles, CA 90019
INVESTMENT HIGHLIGHTS
- Situated on a 14,378 Square Foot Lot, the Offering is a Rare Low-Density Community in the Center of Los Angeles
- Close to world-class shopping, dining, entertainment, and job hubs in Mid-City, Miracle Mile, West Adams, and Koreatown.
- There is 47 Percent Remaining Rental Upside Through Interior Renovations
- Mid-City offers a strong value proposition for tenants priced out of nearby upscale areas like Country Club Park, Lafayette Square, and Miracle Mile.
- Long Term Ownership - The Subject Property Has Been Owned for 45 Years, Offering a Rare Acquisition Opportunity
EXECUTIVE SUMMARY
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 15-unit apartment community located at 4817-4845 St Charles Place. The subject property is located just south of Venice Boulevard and east of La Brea Avenue across three contiguous parcels totaling 14,378 square feet.
The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.
Situated on an oversized 14,378 square foot parcel, the property is comprised entirely of studio units. The property has 47% remaining rental upside through unit renovations along with on-site parking and on-site laundry facilities.
4817-4845 St Charles Place presents investors a unique opportunity to acquire an asset with rare low-density construction in a highly sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential and development possibilities, make 4817-4845 St Charles Place an excellent acquisition opportunity.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 15-unit apartment community located at 4817-4845 St Charles Place. The subject property is located just south of Venice Boulevard and east of La Brea Avenue across three contiguous parcels totaling 14,378 square feet.
The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.
Situated on an oversized 14,378 square foot parcel, the property is comprised entirely of studio units. The property has 47% remaining rental upside through unit renovations along with on-site parking and on-site laundry facilities.
4817-4845 St Charles Place presents investors a unique opportunity to acquire an asset with rare low-density construction in a highly sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential and development possibilities, make 4817-4845 St Charles Place an excellent acquisition opportunity.
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PROPERTY FACTS
| Price | $1,990,000 | Apartment Style | Low-Rise |
| Price Per Unit | $132,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 4.36% | Building Size | 6,520 SF |
| Gross Rent Multiplier | 10.19 | No. Stories | 1 |
| No. Units | 15 | Year Built | 1950 |
| Property Type | Multifamily | Parking Ratio | 1.69/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR1.5 | ||
| Price | $1,990,000 |
| Price Per Unit | $132,667 |
| Sale Type | Investment |
| Cap Rate | 4.36% |
| Gross Rent Multiplier | 10.19 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 6,520 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 1.69/1,000 SF |
| Zoning | LAR1.5 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 15 | - | 430 |
1 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,490,996 | |
| Land Assessment | $1,167,327 | Total Assessment | $2,658,323 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,167,327
Improvements Assessment
$1,490,996
Total Assessment
$2,658,323
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15-Unit Value-Add in Mid-City | 14,378 SF Lot | 4817 St Charles Pl
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