1609 Oak Street

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Address: 1609 Oak St, Los Angeles, CA 90015, USA

Created date: August 28, 2024

Date last updated: August 28, 2024

-Located in a Designated Opportunity Zone and May be Eligible for Preferential Tax Treatment
-There is 40 Percent Remaining Rental Upside Through Interior Renovations
-Located in a Dense Pocket Approximately 0.9 Miles from LA Live & Crypto Arena. With a Walk Score of 78, Most Errands can be Accomplished on Foot
-Located in Close Proximity to Major Venues in the “Downtown Sports Park” for the 2028 Summer Olympics in Los Angeles. Venues Include the LA Coliseum, Crypto.com Arena, & BMO Stadium
-Family Owned & Operated for the Last 11 Years
-Located in the Path of Future Growth between Downtown Los Angeles, West Adams & Koreatown

Property Description

DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a six-unit apartment community located at 1609 Oak Street. The subject property is located west of the 110 Freeway and south of Venice Boulevard. Situated on a 4,745 square foot parcel, the property is comprised of two studios and four one-bedroom units. The property has 40% remaining rental upside through unit renovations. 1609 Oak Street presents investors a unique opportunity to acquire an asset with a strong value-add component and the opportunity to capitalize on the westward expansion and revitalization of the Downtown sub-market. Located in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is a short distance from venues in the “Downtown Sports Park”, Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium, & more, which bode well for the long term prospects of this neighborhood. 1 of 3 Gallery (3) View Map Street View Investment Highlights Located in a Designated Opportunity Zone and May be Eligible for Preferential Tax Treatment There is 40 Percent Remaining Rental Upside Through Interior Renovations Located in a Dense Pocket Approximately 0.9 Miles from LA Live & Crypto Arena. With a Walk Score of 78, Most Errands can be Accomplished on Foot Located in Close Proximity to Major Venues in the "Downtown Sports Park" for the 2028 Summer Olympics in Los Angeles. Venues Include the LA Coliseum, Crypto.com Arena, & BMO Stadium Family Owned & Operated for the Last 11 Years Located in the Path of Future Growth between Downtown Los Angeles, West Adams & Koreatown

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$950,000
No. of Units:	6
Cap Rate:	4.7%
GRM /GIM:	10.94
Building Size:	5,518 Sq ft
Opportunity Zone:	No
Price per unit:	$158,333