A 6-Unit Value-Add Apartment Near DTLA | 1609 Oak St
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A 6-Unit Value-Add Apartment Near DTLA 1609 Oak St
6 Unit Apartment Building $910,000 ($151,667/Unit) 4.96% Cap Rate Los Angeles, CA 90015
Investment Highlights
- Located in a Designated Opportunity Zone and May be Eligible for Preferential Tax Treatment
- Located in a Dense Pocket Approximately 0.9 Miles from LA Live & Crypto Arena. With a Walk Score of 78, Most Errands can be Accomplished on Foot
- Family Owned & Operated for the Last 11 Years
- There is 40 Percent Remaining Rental Upside Through Interior Renovations
- In Close Proximity to Major Venues for the 2028 LA Olympics, including the LA Coliseum, Crypto.com Arena, & BMO Stadium
- Located in the Path of Future Growth between Downtown Los Angeles, West Adams & Koreatown
Executive Summary
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a six-unit apartment community located at 1609 Oak Street. The subject property is located west of the 110 Freeway and south of Venice Boulevard.
Situated on a 4,745 square foot parcel, the property is comprised of two studios and four one-bedroom units. The property has 40% remaining rental upside through unit renovations.
1609 Oak Street presents investors a unique opportunity to acquire an asset with a strong value-add component and the opportunity to capitalize on the westward expansion and revitalization of the Downtown sub-market.
Located in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is a short distance from venues in the “Downtown Sports Park”, Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium, & more, which bode well for the long term prospects of this neighborhood.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a six-unit apartment community located at 1609 Oak Street. The subject property is located west of the 110 Freeway and south of Venice Boulevard.
Situated on a 4,745 square foot parcel, the property is comprised of two studios and four one-bedroom units. The property has 40% remaining rental upside through unit renovations.
1609 Oak Street presents investors a unique opportunity to acquire an asset with a strong value-add component and the opportunity to capitalize on the westward expansion and revitalization of the Downtown sub-market.
Located in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is a short distance from venues in the “Downtown Sports Park”, Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium, & more, which bode well for the long term prospects of this neighborhood.
Property Facts
| Price | $910,000 | Apartment Style | Low Rise |
| Price Per Unit | $151,667 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 4.96% | Building Size | 5,518 SF |
| Gross Rent Multiplier | 10.48 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1922/2011 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $910,000 |
| Price Per Unit | $151,667 |
| Sale Type | Investment |
| Cap Rate | 4.96% |
| Gross Rent Multiplier | 10.48 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 5,518 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1922/2011 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
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Walk Score®
Very Walkable (82)
Transit Score®
Excellent Transit (85)
Bike Score®
Very Bikeable (80)
zoning
| Zoning Code | M1 |
| M1 |
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A 6-Unit Value-Add Apartment Near DTLA | 1609 Oak St
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