The Los Angeles Multifamily Portfolio
The Neema Group of Marcus and Millichap is pleased to exclusively offer for sale The Los Angeles Multifamily Portfolio. A rare opportunity to purchase five multifamily properties totaling 180-units in A+ locations throughout Los Angeles.
This offering is being marketed as a portfolio; however, an investor can purchase one or more buildings individually. Each offering is unique, allowing an investor the opportunity to diversify throughout five highly desirable submarkets of Los Angeles including Koreatown, Pico-Robertson, Downtown, Miracle Mile, and West Hollywood.
Below are the properties included in the portfolio:
- 1480 S Canfield Ave, The Canfield, is a 15-unit trophy asset located in Pico-Robertson with large, meticulously renovated condo-sized units, on-grade parking and recently upgraded front façade, landscaping, fitness center and communal backyard.
- 1354 N Harper Ave, Casa Real, totals 60 units in a prime West Hollywood Location just south of Sunset Boulevard and provides an investor a true value-add opportunity with a current loss to lease of over 48%. The property has been granted a Mills Act contract with the city of West Hollywood.
- 425 S Detroit Street, a 24-Unit luxury apartment building in Miracle Mile will be delivered 100% vacant and is exempt from the Los Angeles Rent Stabilization Ordinance.
- 916 Georgia Street in Downtown Los Angeles is located down the street from the Staples Center, LA Live and JW Marriott’s expansion project. The property currently consists of 32 apartment units on a 7,524 SF lot zoned C2-4D in a Tier 3 TOC, ideal for long-term development.
- 808 S Hobart Blvd, The Ashby Apartments, features 49 recently renovated units in the heart of Koreatown with subterranean and adjacent lot parking. The property has been granted a Mills Act contract with the city of Los Angeles.
Neema Ahadian, Senior Managing Director of Investments at Marcus and Millichap, “The Los Angeles Multifamily Portfolio offers an investor the opportunity to acquire 180 units in five high-growth submarkets of Los Angeles. This generational investment opportunity benefits from the city’s strong apartment fundamentals, exceptional demographics, employment centers, and universities.”