Property Details
Executive Summary
▪️The Neema Group of Marcus & Millichap is pleased to present a rare opportunity at 1233 S Bedford St in the highly coveted Pico Robertson submarket, located just north of W Pico Blvd, a premier Los Angeles neighborhood that attracts high-end renters with a consistently low vacancy rate and steady rent growth
▪️The subject property is a fourplex that is 100% vacant; an ideal owner user or investment opportunity
▪️1233 S Bedford St features a unit mix of two one-bedrooms (798 & 824 SF) and two two-bedrooms (1,000 & 1,034 SF); unique opportunity to acquire and renovate all units immediately
▪️There is a garage located at the rear of the property, with potential to fit four cars
▪️Significant ADU potential at the front or back of the property (Buyer to verify)
▪️Alternatively, there is development potential; the lot totals 6,840 SF zoned [Q]R3-1-O in a Tier 3 TOC; ownership has preliminary plans for a 36-unit affordable housing project
▪️Strong demographics in the neighborhood; within two miles of the subject property, the median home value is over $1.1 MM and average household income over $127,000
▪️The Pico-Robertson neighborhood is an established Los Angeles community known for being highly walkable, providing an array of amenities within a half-mile radius, the property has an exceptional walk score of 96 and is within walking distance to S Robertson Blvd, W Olympic Blvd, and S La Cienega Blvd with high-end retail options for residents
