Marcus & Millichap is pleased to present 1672 S Harvard Boulevard, an eight-unit multifamily property in the Harvard Heights neighborhood of Los Angeles in which seven of the units are being delivered vacant to a new investor. The building features large floorplans, with the one bedroom units averaging over 800 square feet. A new investor will benefit greatly from the fact that the property does not fall on the seismic retrofit list (Buyer to verify).
With a Spanish Colonial Revival facade typical of many residential properties within Historic Harvard Heights, the building also features bay windows and high ceilings. A new owner can capitalize on its improving neighborhood and architectural character to remodel the property and improve cash flow, a process that has been successfully conducted on similar buildings in the area.
Once renovated, the apartments will more easily draw new tenants thanks to several factors, including the on-site parking and the property’s proximity to the 10 Freeway, which is approximately a half-mile away. Tenants will also have convenient access to neighboring Koreatown, Mid-Wilshire, and Mid-City, three thriving submarkets with plenty of retail and entertainment allure.
