Executive Summary

The Neema Group of Marcus & Millichap is pleased to present 1041 S Corning Street, a 15-unit (plus one non-conforming single unit) multifamily investment opportunity, located in the coveted Pico Robertson neighborhood. The property sits west of La Cienega Boulevard just south of Olympic Boulevard, a few blocks from Beverly Hills. Built in 1962, the property spans approximately 16,234 SF on a 12,270 SF lot.

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Offered at $4,700,000 ($313,333/unit, $289.52/ SF), reflecting a 5.50% current cap rate and 10.48 GRM on in-place income. A diverse unit mix of two one-bedroom units, twelve two-bedroom/ two-bath units, one three-bedroom/three-bath unit, and one single, non-conforming unit caters to a wide range of renter profiles. caters to a wide range of renter profiles.

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The property offers a gated entrance with an intercom system, along with a gated parking garage, providing tenants with a secure, controlled-access living environment. Private balconies are featured on the front and rear of the property add livability and appeal relative to competing product.

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The property is separately metered for gas and electric. Approximately 9 units have been remodeled with select units featuring new AC Systems.

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On-site community laundry, equipped with two washers and two dryers. The property offers 16 parking spaces, a notable amenity in the submarket that supports tenant demand and provides the new owner with upside potential through increased parking revenue.

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The property has experienced healthy natural turnover with limited legacy tenancy, supporting a faster path to market rents for a new owner. Situated in a high-demand, competitive rental submarket just below Olympic Boulevard and west of La Cienega, the property benefits from strong and consistent tenant demand.

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Several new construction developments along the block signal continued investment and reinvestment in the immediate area, reinforcing long-term value in the location. Pico Robertson remains a tightly held, highly desirable submarket with limited turnover among comparable multifamily assets, offering a rare opportunity to acquire scale just blocks from Beverly Hills.