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    1812 W 5Th St

    Los Angeles, CA 90057
    • $5,250,000
    • STATUS: Active
    • ON SITE: 31 days
    • MLS #: 21-730938
    UPDATED: 34 min ago
    $5,250,000
    • 8
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 22,340
      SQFT
    • $235
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    Description

    1812 West 5th Street is a 40-unit apartment building located in a prime Westlake location just north of 6th street near McArthur Park and the Home Depot, a highly walkable location with access to entertainment, shopping, dining, nightlife, and employment opportunities. Built in 1927, this value-add investment presents the investor an opportunity to achieve a 36% upside in rents after renovations when the units turn. The property will be delivered with ten vacancies at the close of escrow.The subject property is being offered at a 4.77% current cap rate and a 11.17 GRM on current income. Ease of management as the electric and gas utilities are separately metered. There is also a RUBS program in-place for future tenants of water and sewer partial reimbursement. The subject property has an incredible walk score of 93, a Walkers Paradise recognized for its unparalleled access to dining, shopping, parks, schools, amenities and entertainment; and is a short walk to MacArthur Park, Good Samaritan Hospital and the Metro Purple andRed Lines. Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; its rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-13T07:42:35.623. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.markwiseproperties.com/homes/117091483
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    1812 W 5Th St Los Angeles, CA 90057

    • Price: $5,250,000
    • Status: Active
    • Updated: 34 min ago
    • MLS #: 21-730938
    8
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    22,340
    SQFT
    $235
    $/SQFT
    1927
    Built
    Neighborhood:
    Downtown L.A.
    County:
    Los Angeles
    Area:
    Downtown L.A.
    Property Description
    1812 West 5th Street is a 40-unit apartment building located in a prime Westlake location just north of 6th street near McArthur Park and the Home Depot, a highly walkable location with access to entertainment, shopping, dining, nightlife, and employment opportunities. Built in 1927, this value-add investment presents the investor an opportunity to achieve a 36% upside in rents after renovations when the units turn. The property will be delivered with ten vacancies at the close of escrow.The subject property is being offered at a 4.77% current cap rate and a 11.17 GRM on current income. Ease of management as the electric and gas utilities are separately metered. There is also a RUBS program in-place for future tenants of water and sewer partial reimbursement. The subject property has an incredible walk score of 93, a Walkers Paradise recognized for its unparalleled access to dining, shopping, parks, schools, amenities and entertainment; and is a short walk to MacArthur Park, Good Samaritan Hospital and the Metro Purple andRed Lines. Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; its rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles
    Exterior Features

    Lot Size Area 7477 Other Structures None Parking Garage None Total Parking 0 View Description City View YN Yes

    Interior Features

    Baths Total 40.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 2843105 Gross Income 470140 Gross Operating Income 446633 Like Units1 8 Like Units2 24 Like Units3 8 Net Operating Income 250522.00 Number Of Buildings 1 Number Of Units 40 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 196110 Type Of Units Apartment Year Built Source Vendor Enhanced Zoning Lar4

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-13T07:42:35.623. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Mark Wise | Bennion Deville Homes
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