Executive Summary

The Neema Group of Marcus & Millichap is pleased to present 738 S. Ogden Drive, a luxury 12-unit multifamily offering located in the highly coveted Miracle Mile neighborhood just south of Wilshire Blvd and east of Fairfax Ave. Built in 2015, the property represents a rare turnkey, newer construction asset in an A+ Los Angeles location surrounded by premier retail amenities.

The property features twelve large two-bedroom, two-bathroom condo style units, ranging from 1,185 to 1,340 SF, significantly larger than typical area floorplans. Residences offer floor-to-ceiling windows, 10-foot ceilings, designer kitchens with quartz countertops, stainless-steel appliance packages, tiled backsplashes, in-unit washer/dryers, walk-in closets, and expansive private balconies—many with two-way gas fireplaces.

Building amenities include controlled access, assigned garage parking, EV charging, and an elevated rooftop lounge with panoramic city views, providing a best-in-class living environment that attracts high-quality tenants.

Offered at $8,250,000, the property delivers strong in-place income with a 5.25% current cap rate and 12.32 GRM, while market rents support a 5.95% market cap and 11.26 GRM, creating operational upside and long-term appreciation potential for investors.

The current financing can be assumed – a $4.9 MM principal at a 4.12% interest rate, interest only until 5/1/2027; contact agents for additional details.

Located in a Walk Score 91 (Walker’s Paradise) location, the property sits steps from Los Angeles’ most iconic cultural destinations—including LACMA, The Petersen Automotive Museum, The Academy Museum, and the La Brea Tar Pits—and is minutes from The Grove, The Original Farmers Market, and the dining and retail corridors along Wilshire and Fairfax.

The property’s central location provides exceptional connectivity to major employment hubs such as Beverly Hills, Century City, Culver City, West Hollywood, and Downtown LA. The upcoming Wilshire/Fairfax Metro D Line Station—scheduled to open soon— will further enhance resident mobility.

With oversized luxury units, modern amenities, strong in-place cash flow, and outstanding Miracle Mile location, 738 S. Ogden Drive represents a rare opportunity to acquire a high-quality newer construction asset with long-term appreciation potential.