Views
Address
1812 W 5Th Street Los Angeles, CA
Price
$ 5,250,000
Property Attributes
  • MLS#21730938
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaDowntown L.A.
  • Zip90057
  • Style
  • Price$ 5,250,000
  • Bedrooms8
  • Full Bathrooms8
  • Half Bathrooms0
  • Lot Size7,477 SqFt
Listing Provided Courtesy Of:
Neema Ahadian with Marcus & Millichap.
Data Source:
CRMLS
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

Price History
5/12/2021 Listed $5,250,000

General Features

Listing Agent Neema Ahadian - BRE#01346750
Listing Agent State License 01346750
MLS Area C42 - Downtown L.A.
Parking Features None
Property Type Residential Income
Special Listing Conditions Standard
Total Units 40
View City Lights
Zoning LAR4

Exterior Features

Lot Size Acres 0.17
Lot Size Area 7477
Lot Size Square Feet 7477
Lot Size Units Square Feet
Number of Buildings 1
View Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90057

Price
AVG $5.14M
$5.25M
Visits
AVG 28
20
Year Built
AVG 1947
1927
Walkscore
AVG 93
93
Data Provided by Walkscore ® not using MLS data

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