1063 S Wooster St
8 Unit Apartment Building $8,950,000 ($1,118,750/Unit) 3.25% Cap Rate Los Angeles, CA 90035
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INVESTMENT HIGHLIGHTS
- NEWER CONSTRUCTION 2023 CofO – not subject to rent control
- IDEAL UNIT MIX One 3+2 penthouse, for 3+2’s, two 2+2’s and one 1+1
- WALK SCORE OF 96 Walker’s Paradise – Daily Errand’s do not require a car – steps to LA and BH supermarkets and restaurants
- ATTENTION TO DETAIL W/D in unit, modern fireplaces in the living room, ample parking (16 spaces), most units have dual sinks and dishwashers, Garage
- CORE LOCATION 2.5 Blocks southeast of Beverly Hills
- MOSTLY VACANT 5 out of 8 units vacant – multiple options to either condo map the building and sell off individually or achieve top market rent day 1
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present a recently built (2023 CofO) 8-unit apartment building nestled in Pico Robertson 2 blocks southeast of the Beverly Hills border. The large 13,105 square feet building boasts an ideal unit mix consisting of one 3+2 penthouse unit, four 3+2’s, two 2+2’s and one 1+1. The attention to detail has been paramount as the spacious units have central heating and cooling, washer dryers in unit and huge open floor plan kitchens where most units (all besides the 1+1) have dual sinks and dual dishwashers. The asset has striking views of DTLA as well as the surrounding neighborhood as you can see from the dual pane windows that soak in the abundance of natural light.
The asset is in an ideal location south of Olympic on Wooster east of Robertson and west of La Cienega with a 96 walk score steps to sought after eateries like Lenny’s Casita, Trattoria Natalie, Shiloh’s Bistro & Garden.
The asset is in an ideal location south of Olympic on Wooster east of Robertson and west of La Cienega with a 96 walk score steps to sought after eateries like Lenny’s Casita, Trattoria Natalie, Shiloh’s Bistro & Garden.
PROPERTY FACTS
Price | $8,950,000 |
Price Per Unit | $1,118,750 |
Sale Type | Investment |
Cap Rate | 3.25% |
Gross Rent Multiplier | 19.76 |
No. Units | 8 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid Rise |
Building Class | B |
Lot Size | 0.15 AC |
Building Size | 13,105 SF |
Average Occupancy | 88% |
No. Stories | 4 |
Year Built | 2023 |
Parking Ratio | 1.22/1,000 SF |
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
2+2 | 8 | - | - |
1 of 1
Walk Score®
Walker's Paradise (94)
PROPERTY TAXES
Parcel Number | 4332-016-034 | Improvements Assessment | $1,841,302 |
Land Assessment | $1,543,141 | Total Assessment | $3,384,443 |
ZONING
Zoning Code | LAR3 |