Property Details


Year Built: 1963
Units: 6
Price / Unit: $483,333
Price / SqFt: $450
CAP: 4.99%
GRM: 13.77

Executive Summary


INVESTMENT HIGHLIGHTS

  • 1965 South Garth Avenue is a six-unit investment opportunity in the South Robertson neighborhood of Los Angeles located just west of La Cienega Boulevard between Guthrie Avenue and Sawyer Street, a centralized location just north of the 10 Freeway with convenient access to Century City, Pico Robertson, Culver City and Beverly Hills
  • The subject property features an impressive unit mix of five three-bedroom units (approximately 1,150 SF) as well as one single unit; five of the six units will be delivered vacant at the close of escrow, allowing an investor to renovate the interiors and achieve market rents immediately at the close of escrow
  • After the renovation and lease-up period, the subject property at the asking price is projected to achieve a CAP rate of 4.99%- 5.44%; opportunity to fully stabilize the building immediately with no buyouts or relocation required
  • 1965 S Garth Avenue has a secure, gated entrance and has six total parking spaces with five tuck under spaces at the rear of the property and one space at the front of the property; ownership has the City of Los Angeles approval and Tenant Habitability Program in-place for the seismic retrofit work needed
  • Utilities are low as gas and electricity are separately metered; the units also have central heating throughout
  • The subject property is located less than a half-mile from Kaiser Permanente West Los Angeles and is walking distance to Plaza La Cienega on the southeast corner of 18th & La Cienega Blvd, a shopping center with prominent tenants such as Smart & Final Extra, Ross Dress for Less, CVS, and LA Fitness among others
  • 1965 South Garth Avenue attracts quality tenants as it neighbors highly desirable Los Angeles neighborhoods such as Cheviot Hills, Culver City and Beverlywood and provides tenants an easy commute to major employers in Century City, Beverly Hills and Culver City such as Amazon Studios, Tik Tok, Sony Pictures, Kaiser Permanente among many more

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