Executive Summary

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The Neema Group of Marcus & Millichap is pleased to present 1433 E 61st Street, an 8 unit multifamily investment opportunity in South Los Angeles. The property sits on a 6,957 square foot lot with 4,456 square feet of gross building area and was originally constructed in 1957.§ The Neema Group of Marcus & Millichap is pleased to present 1433 E 61st Street, an 8 unit multifamily investment opportunity in South Los Angeles. The property sits on a 6,957 square foot lot with 4,456 square feet of gross building area and was originally constructed in 1957.

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The building is configured entirely as 1 Bedroom + 1 Bathroom units, offering a uniform, easy to manage unit mix with consistent tenant appeal.§ The building is configured entirely as 1 Bedroom + 1 Bathroom units, offering a uniform, easy to manage unit mix with consistent tenant appeal.

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The building consists of a two story, wood frame structure with gas and electricity separately metered by unit, allowing utility expenses to be passed through to tenants and simplifying ownership.§ The building consists of a two story, wood frame structure with gas and electricity separately metered by unit, allowing utility expenses to be passed through to tenants and simplifying ownership.

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The property offers 7 open parking spaces located at the rear of the building, a meaningful amenity for tenants and a point of differentiation in the submarket.§ The property offers 7 open parking spaces located at the rear of the building, a meaningful amenity for tenants and a point of differentiation in the submarket.

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Interior unit features include vinyl plank flooring in the living room, tile flooring in the kitchen, and a wall heater. Bathrooms have been improved with new tile surround at the tub and a new vanity, while kitchens remain in original condition, presenting a clear value add opportunity for a future ownership group.

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At a purchase price of $1,000,000 ($125,000 per unit), the offering reflects a 7.69% current cap rate and a 7.30 GRM. With approximately 18.07% rental upside to market, an investor can achieve a pro forma cap rate of 9.93% and a 6.18 GRM through targeted renovation and lease up to market rents.

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This presents a rare opportunity to acquire a stabilized, income producing asset in South Los Angeles with straightforward value add potential through kitchen renovations and rent growth to market levels.§ This presents a rare opportunity to acquire a stabilized, income producing asset in South Los Angeles with straightforward value add potential through kitchen renovations and rent growth to market levels.