7 Units | West Adams | Built 1961

Highlights:

• Built 1961 | Recent Renovations
• All 2BR/1BA in West Adams
• New Roof, Plumbing, and more
• Seismic Retrofit Completed
• 18% Rent Upside Potential
• ADU Addition Opportunity
• C2 Zoning with Tier 2 TOC
• 84 Walk Score (Very Walkable)

Description:

The LAAA Team of Marcus & Millichap is pleased to present 5614 W Adams Boulevard, a value-add seven-unit apartment building in one of Los Angeles' fastest-growing neighborhoods. Reduced to $1,795,000 from the $1,950,000 launch. All seven units are efficient 2BR/1BA layouts, two recently renovated with permits, and one vacant unit has been taken to the studs and pre-fit for a turnkey finish. In-place rents average roughly $2,153 and sit about 16% below the $2,500 achieved on the renovated units, with additional ADU upside on the C2-1VL-CPIO corner lot.

• Priced to Sell: Reduced to $1,795,000 from the $1,950,000 launch. At $256,429 per unit and $356.99 per square foot, the property prices below the comparable set at a 6.52% going-in cap.

• Mark-to-Market Upside: In-place rents average approximately $2,153 and sit roughly 16% below the $2,500 achieved on the renovated units, with room to grow net operating income as units turn.

• Renovations and Turnkey Vacancy: Two units were recently renovated with permits. One vacant unit was taken to the studs, passed rough MEP, and is pre-fit for appliances and in-unit laundry for a quick, finish-to-your-spec completion.

• Recent Capital Improvements: New roof, backflow preventer, and central plumbing, plus fresh landscaping, paint, and re-stucco. The soft-story seismic retrofit is complete with a Certificate of Compliance.

• Development and ADU Upside: Zoned C2-1VL-CPIO in a Tier 2 Transit Oriented Communities area and High Quality Transit Corridor, the corner lot may support detached ADU(s) or added density.