Los Angeles, CA 90019 1409 Arlington Avenue
$1,550,000
2 more
Presented By: Sean Rosenzweig with Marcus & Millichap;
Home Details
We are pleased to offer for sale a 9-unit apartment community located at 1409 Arlington Avenue. The subject property is located south of Pico Boulevard and east of Crenshaw Avenue. This property is being sold as part of a 5 building, 79-unit portfolio that is available individually or any combination as a portfolio purchase. The property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area. Situated on a 6,828 square foot parcel, the property is comprised of two studio units, five one-bedroom units, and two two-bedroom units. The property has 64% remaining rental upside through unit renovations along with on-site parking for every unit and on-site laundry facilities. 1409 Arlington Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1409 Arlington Avenue an excellent acquisition opportunity.
Presented By: Sean Rosenzweig with Marcus & Millichap;
Interior Features for 1409 Arlington Avenue
Bedrooms
Total Bedrooms9
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths9
Other Interior Features
LivingAreaSourceAssessor
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Total Stories2
General for 1409 Arlington Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate4.24
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Days on Market122
DirectionsSouth of Pico Boulevard & West of Wilton Place
Full Baths
Garage Y/NNo
Gross Income126940.0
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo, MultiSplit
Lot Size Square Feet6825.0
Lot Size UnitsSquareFeet
MLS AreaC16 - Mid Los Angeles
MobileHomeRemainsYNNo
Net Operating Income65791.0
New ConstructionNo
NumberOfUnitsTotal9
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
View Y/NNo
Waterfront Y/NNo
Year Built1964
Year Built SourceAssessor
ZoningLARD1.5
Exterior for 1409 Arlington Avenue
Building Area Total5797.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1567
Lot Size Area6825.0
Lot Size SourceAssessor
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesCovered, Uncovered
SpaNo
Total Parking9.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480