A 5-Unit Apartment in Arlington Heights | 2122 6th Ave
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A 5-Unit Apartment in Arlington Heights 2122 6th Ave
5 Unit Apartment Building $1,325,000 ($265,000/Unit) 5.89% Cap Rate Los Angeles, CA 90018
Investment Highlights
- New Ownership May Convert Office and Storage Into ADUs, Offering Potential for Future Growth and Appreciation – Buyer to Verify
- Bordering the Rapidly Gentrifying West Adams & Arlington Heights Sub-Markets, Which Have both Seen an Influx of New Developments and Nightlife
- There is 20 Percent Remaining Rental Upside Through Interior Renovations to the Remaining Units
- All Units Have Washer/Dryers. 60% of Units Upgraded With New Appliances, Granite Countertops, Refinished Floors, Bathroom Tiling & More
- Located in a Gentrifying Pocket of LA With a Walk Score of 84 – Convenient Access to Employment, Retail, and Entertainment in Mid-City & Koreatown
- Current Ownership Has Attentively Maintained the Property
Executive Summary
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a five-unit apartment community located at 2122-2124 6th Avenue. The subject property is located just south of Washington Boulevard bordering the desirable West Adams neighborhood to the south and the Arlington Heights sub-market to the north.
Situated on a 7,508 square foot parcel, the property is comprised of four one-bedroom units and one three-bedroom unit. All units have in-unit washer/dryers & 60% of the unit interiors have been upgraded with new kitchen appliances, granite countertops, re-finished original hardwood floors, bathroom tiles & unit 2124 has central AC. There are five on-site garages, two of which are not leased & one garage is being used as an office/bonus room by one of the tenants for additional income. The office/bonus room and empty storage unit can both potentially be converted into attached ADU’s (Accessory Dwelling Unit) – Buyer to verify.
The continued gentrification of the surrounding area along with a strong value-add component of the deal makes 2122-2124 6th Avenue an excellent investment opportunity poised for long term healthy returns.
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a five-unit apartment community located at 2122-2124 6th Avenue. The subject property is located just south of Washington Boulevard bordering the desirable West Adams neighborhood to the south and the Arlington Heights sub-market to the north.
Situated on a 7,508 square foot parcel, the property is comprised of four one-bedroom units and one three-bedroom unit. All units have in-unit washer/dryers & 60% of the unit interiors have been upgraded with new kitchen appliances, granite countertops, re-finished original hardwood floors, bathroom tiles & unit 2124 has central AC. There are five on-site garages, two of which are not leased & one garage is being used as an office/bonus room by one of the tenants for additional income. The office/bonus room and empty storage unit can both potentially be converted into attached ADU’s (Accessory Dwelling Unit) – Buyer to verify.
The continued gentrification of the surrounding area along with a strong value-add component of the deal makes 2122-2124 6th Avenue an excellent investment opportunity poised for long term healthy returns.
Property Facts
| Price | $1,325,000 | Apartment Style | Low Rise |
| Price Per Unit | $265,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.89% | Building Size | 5,220 SF |
| Gross Rent Multiplier | 10.95 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1918 |
| Property Type | Multifamily | Parking Ratio | 1.15/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,325,000 |
| Price Per Unit | $265,000 |
| Sale Type | Investment |
| Cap Rate | 5.89% |
| Gross Rent Multiplier | 10.95 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,220 SF |
| No. Stories | 2 |
| Year Built | 1918 |
| Parking Ratio | 1.15/1,000 SF |
Unit Amenities
- Microwave
- Washer/Dryer
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+2 | 1 | - | - |
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Walk Score ®
Very Walkable (84)
zoning
| Zoning Code | RD2 |
| RD2 |
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A 5-Unit Apartment in Arlington Heights | 2122 6th Ave
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