West Adams | 7 Units | Value Add
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Built 1961 | Recent Renovations
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All 2BR/1BA in West Adams
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New Roof, Plumbing, and more
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Seismic Retrofit Completed
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18% Rent Upside Potential
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ADU Addition Opportunity
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C2 Zoning with Tier 2 TOC
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84 Walk Score (Very Walkable)
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Property Description
The LAAA Team of Marcus & Millichap is pleased to present 5614 W Adams Boulevard, a value-add seven-unit apartment building in one of Los Angeles' fastest-growing neighborhoods. Reduced to $1,795,000 from the $1,950,000 launch. All seven units are efficient 2BR/1BA layouts, two recently renovated with permits, and one vacant unit has been taken to the studs and pre-fit for a turnkey finish. In-place rents average roughly $2,153 and sit about 16% below the $2,500 achieved on the renovated units, with additional ADU upside on the C2-1VL-CPIO corner lot. •Priced to Sell: Reduced to $1,795,000 from the $1,950,000 launch. At $256,429 per unit and $356.99 per square foot, the property prices below the comparable set at a 6.52% going-in cap. •Mark-to-Market Upside: In-place rents average approximately $2,153 and sit roughly 16% below the $2,500 achieved on the renovated units, with room to grow net operating income as units turn. •Renovations and Turnkey Vacancy: Two units were recently renovated with permits. One vacant unit was taken to the studs, passed rough MEP, and is pre-fit for appliances and in-unit laundry for a quick, finish-to-your-spec completion. •Recent Capital Improvements: New roof, backflow preventer, and central plumbing, plus fresh landscaping, paint, and re-stucco. The soft-story seismic retrofit is complete with a Certificate of Compliance. •Development and ADU Upside: Zoned C2-1VL-CPIO in a Tier 2 Transit Oriented Communities area and High Quality Transit Corridor, the corner lot may support detached ADU(s) or added density.
Key Property Information
| Listing Status: | Available |
|---|---|
| Property Types: | Apartment Buildings |
| Price: | $1,795,000 |
| No. of Units: | 7 |
| Cap Rate: | 6.52% |
| GRM /GIM: | 9.93 |
| Year Built: | 1961 |
| Year Renovated: | 2017 |
| Building Size: | 5,028 Sq ft |
| Lot Size: | 0.14 Acres |
| No. of Stories: | 2 |
| APN: | 5048-029-020 |
| Zoning Code: | C2 |
| Opportunity Zone: | No |
| Price per unit: | $256,429 |
| Parking Spaces: | 7 |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| 2 Bed / 1 Bath | 7 | 715 | 2126 |
FINANCIAL DETAILS
| Income/expense info: | Actual |
|---|
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Tony Dang | (818) 212-2763 | [email protected] |
| Glen Scher | (818) 212-2808 | [email protected] |
| Filip Niculete | 818-212-2748 | [email protected] |
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