Executive Summary

DOWNLOAD OFFERING MEMORANDUM

• The Winestone Group and the Neema Group of Marcus & Millichap are pleased to present a unique owner-user or investment opportunity at 6069 Horner St in the highly coveted Pico Robertson submarket, located south of Pico Blvd between La Cienega Blvd and S Crescent Heights Blvd, a premier Los Angeles neighborhood that attracts high-end renters with a consistently low vacancy rate and steady rent growth
• The 2008 construction is not subject to the Los Angeles Rent Stabilization Ordinance; the property totals 5,945 SF with three spacious units, one three-bedroom two-bathroom unit (approximately 1,650 SF) and two three-bedroom three-bathroom units (approximately 1,900 & 1,950 SF) that have been meticulously maintained since the property was constructed
• All units have secure, Ring security entrances and feature luxury interiors with 10-foot ceilings throughout, custom wood cabinetry, stainless steel appliances, recessed, LED retrofitted lighting, hardwood flooring, spacious living rooms, ample storage space and in-unit washer and dryer; the three-bedroom two-bathroom unit has a long balcony with access from the living room and master bedroom, and the two three-bedroom three-bathroom units have a shared, approximate 600 SF patio at the rear of the property
• Each unit has a two-car garage located at the front of the property; one unit utilizes half of the garage as storage space and another unit uses half of the garage as a home office
• Limited landlord responsibilities as tenants are responsible for all utilities including waste removal
• Ideal opportunity for an owner user to occupy one of the units, or an investor to acquire a turnkey asset with no deferred maintenance and capture the rental upside
• The property benefits from a significant affordability gap between renting and home ownership in the neighborhood; within two miles of the subject property, the median home value is over $1 MM; the average household income within two miles of the property is $117,622
• 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 a walk score of 86 and is located two blocks north of Crescent Heights Elementary School

Area Overview

Pico-Robertson is a culturally diverse neighborhood located in the Westside region of Los Angeles, California. It’s known for its unique blend of Jewish and Persian communities, which have left a significant cultural and culinary influence on the area. The neighborhood is renowned for its diverse and delectable culinary offerings. You’ll find a plethora of kosher restaurants, bakeries, and delis serving traditional Jewish and Israeli cuisine. Additionally, there’s a wide array of Persian restaurants offering dishes like kebabs, tahdig, and various stews. The blend of these two culinary traditions makes Pico-Robertson a food lover’s paradise.

The neighborhood is well-connected by public transportation, including buses. It’s also conveniently located near major thoroughfares, making it relatively accessible within the city. Pico-Robertson is a unique and culturally vibrant neighborhood that beautifully exemplifies the diversity and richness of Los Angeles. Its culinary delights, cultural diversity, and a strong sense of community make it a special place in the city. Residents and visitors have access to nearby recreational facilities, including parks and fitness centers. The Cheviot Hills Recreation Center and Roxbury Memorial Park are close by, providing green spaces and sports facilities. Pico-Robertson benefits from its proximity to major Los Angeles streets like Pico Boulevard and Robertson Boulevard. Public transportation options are also available, connecting residents to other parts of the city.

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