Sean Rosenzweig
Marcus & Millichap
310-909-5500
We are pleased to offer for sale a 9-unit apartment community located at 1409 Arlington Avenue. The subject property is located south of Pico Boulevard and east of Crenshaw Avenue. This property is being sold as part of a 5 building, 79-unit portfolio that is available individually or any combination as a portfolio purchase.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 a 6,828 square foot parcel, the property is comprised of two studio units, five one-bedroom units, and two two-bedroom units. The property has 65% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities. 1409 Arlington Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1409 Arlington Avenue an excellent acquisition opportunity.
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Total Bedrooms : 9
Total Baths: 9
Full Baths: 0
Half Baths: 0
Year Built: 1964
Building Area Total: 5,797
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1567
Lot Size Source: Assessor
Lot Size Square Feet: 6825
Original List Price: 1,600,000
Listing Contract Date: 2024-05-06
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5072037017
Garage Description: Covered,Uncovered
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C16 - Mid Los Angeles
Postal Code Plus 4: 4578
Directions: South of Pico Boulevard & West of Wilton Place
Zoning: LARD1.5
Source Property Type: Residential Income
Area: C16 - Mid Los Angeles
Property Age: 60
Year Built Source: Assessor
Total Square Feet Living: 5797
Levels or Stories: Two,Multi/Split
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
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ByOwner last updated this listing 06/03/2024 @ 11:09
MLS: 24388373
LISTED BY: Sean Rosenzweig, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.