KW Commercial as exclusive advisors are pleased to present 4056 & 4108 Marathon Street, a 30 unit apartment community plus a separate parcel providing parking, in one of L.A.’s most dynamic rental markets, Silver Lake / Virgil Village, CA (90029).
The asset reflects the energy of the local community. It’s a compelling investment opportunity located in the hippest and happening area of where Virgil Village and Sunset Junction.
4108 Marathon Street, built in 1928, offers an exceptional unit composition featuring Twenty-Six (26) Large One Bedroom-One Bathroom and Four (4) Two Bedroom-One Bathroom apartment homes encompassing +/-24,520 square feet of improvements.
4056 Marathon Street is a separate parcel included in the offering and provides 15 vehicle parking spaces. The parcel is zoned RD 1.5 in 4,250 SF of land. Parking lot improvements include new asphalt resurfacing, restriping and new gate/fencing.
4108 Marathon Street has undergone a gut-level renovation of Fifteen (15) of the Thirty (30) apartment homes (50% of units) with completely reimagined interior spaces, new baths and kitchens, gleaming wood floors, new doors, lighting, locks, hardware, and designer finishes throughout. Select 3rd floor apartment homes feature vaulted ceilings, dramatic city lights and skyline views.
Fifteen (15) units have not been renovated allowing future increased rent potential through natural attrition.
4108 Marathon, built in 1928, features a large basement that has been partially improved but unrealized as an additional amenity package creating a potential profit center for the next steward of the asset.
The common and exterior spaces have undergone a dramatic renovation highlighted by new lobby/hallway/staircase flooring, lighting, laundry facilities; and outdoor spaces. The exterior has been transformed with a new color palate, architectural moldings, awnings and drought resistant landscaping.
The roof has been upgraded with a cool roof system and the foundation has recently been retrofitted.
4056 & 4108 Marathon Street are located mere steps from Virgil Village, L.A.’s latest hip neighborhood where those “in-the-know” frequent Sqirl Cafe and Twig & Twine along with numerous other entertainment venues.
Silver Lake / Virgil Village, CA (90029) is as diverse as the people living in it. Thanks to its neighborhood feel, the area is perfect for young people looking for a dynamic location and a community vibe. The area is continually growing — with an ever-increasing mix of stylish boutiques, restaurants, bars, coffee shops and everything in between.
