Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire The Sheffield Apartments, a 57-unit multifamily investment property located in Culver City, one of the premier housing markets in Southern California.
Culver City boasts an incredibly desirable demographic base - affluent, young, active and highly educated. With its centrality and a growing amount of retail, as well as its housing and transporation options, many are choosing to live, work, and play in Culver City.
The Sheffield Apartments benefits from its exceptional Culver City location, less than half a mile from Interstate 405 and State Route 90 and less than a 10-minute walk to Westfield Culver City. Residents have ideal proximity to thousands of high-paying jobs, a plethora of entertainment venues, cultural destinations, and world class restaurants. Situated in one of the most sought after submarkets in Los Angeles County, the property’s new owner can increase gross rental income by approximately 29 percent through the execution of an interior and renovation plan.
Built in 1970, The Sheffield Apartments represents a unique opportunity to acquire an impeccably maintained mutlifamily investment property which has never been on the market. Situated on a 0.94-acre lot, the 55,124 square foot property consists of one- and two-bedroom floor plans. The Sheffield Apartments offers an attractive range of amenities including ceiling fans, fireplaces, a swimming pool, private balconies, on-site laundry facilities, elevator serviced, subterranean parking, and controlled access.
Given the property’s premier Culver City location and unique appeal of the subject property, The Sheffield Apartments is an ideal asset for investors seeking strong long term returns and appreciation.
