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24 Units near Century City 1830 Greenfield Ave
24 Unit Apartment Building $9,250,000 USD ($385,417 USD/Unit) 4.49% Cap Rate Los Angeles, CA 90025
Investment Highlights
- Incredible West Los Angeles location
- Several luxuriously upgraded units
- Massive storage area (previously an indoor pool)
- Excellent unit mix of large 1 and 2-bedroom floor plans
- Charming courtyard setting with fountain
- In close proximity to Century City, fine dining, and entertainment venues
Executive Summary
Jonathan Taksa of Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, is pleased to offer for sale a rare 24-unit multi-family investment opportunity ideally located in the heart of LA’s vibrant Westside.
1830 Greenfield Avenue, built in 1963 and positioned along a lovely tree lined street, boasts an ideal unit mix consisting of large 1-bedroom and 2-bedroom units. Each of these units is spacious, has a terrific floor plan, and offers an abundance of natural light. The unit mix includes (12) 2-bed, 2-bath units and (12) 1-bed, 1-bath units, and there is significant rental upside in the rents. The property features an idyllic courtyard setting with a fountain, a large lobby, ample parking, and an on-site laundry facility. Owned by the same family for several
decades, this trophy asset is situated in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
In close proximity to the high-end dining and nightlife of Century City and Brentwood, this rare offering presents an astute investor with the unique opportunity to establish a significant rental footprint in West LA and to capitalize on higher market rents in one of the best rental locations in all of Los Angeles.
1830 Greenfield Avenue, built in 1963 and positioned along a lovely tree lined street, boasts an ideal unit mix consisting of large 1-bedroom and 2-bedroom units. Each of these units is spacious, has a terrific floor plan, and offers an abundance of natural light. The unit mix includes (12) 2-bed, 2-bath units and (12) 1-bed, 1-bath units, and there is significant rental upside in the rents. The property features an idyllic courtyard setting with a fountain, a large lobby, ample parking, and an on-site laundry facility. Owned by the same family for several
decades, this trophy asset is situated in an undeniably attractive location that will surely pay long-term dividends to a savvy investor.
In close proximity to the high-end dining and nightlife of Century City and Brentwood, this rare offering presents an astute investor with the unique opportunity to establish a significant rental footprint in West LA and to capitalize on higher market rents in one of the best rental locations in all of Los Angeles.
Financial Summary (Pro forma - 2024) |
Annual (USD) | Annual Per SF (USD) |
---|---|---|
Gross Rental Income | $667,908 | $26.99 |
Other Income | $4,992 | $0.20 |
Vacancy Loss | $20,037 | $0.81 |
Effective Gross Income | $652,863 | $26.38 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $237,477 | $9.60 |
Net Operating Income | $415,386 | $16.79 |
Financial Summary (Pro forma - 2024)
Gross Rental Income (USD) | |
---|---|
Annual | $667,908 |
Annual Per SF | $26.99 |
Other Income (USD) | |
---|---|
Annual | $4,992 |
Annual Per SF | $0.20 |
Vacancy Loss (USD) | |
---|---|
Annual | $20,037 |
Annual Per SF | $0.81 |
Effective Gross Income (USD) | |
---|---|
Annual | $652,863 |
Annual Per SF | $26.38 |
Taxes (USD) | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses (USD) | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses (USD) | |
---|---|
Annual | $237,477 |
Annual Per SF | $9.60 |
Net Operating Income (USD) | |
---|---|
Annual | $415,386 |
Annual Per SF | $16.79 |
Property Facts
Price | $9,250,000 USD | Apartment Style | Low Rise |
Price Per Unit | $385,417 USD | Building Class | C |
Sale Type | Investment | Lot Size | 0.46 AC |
Cap Rate | 4.49% | Building Size | 24,746 SF |
Gross Rent Multiplier | 13.75 | Average Occupancy | 100% |
No. Units | 24 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1963 |
Property Subtype | Apartment | Parking Ratio | 1.45/1,000 SF |
Price | $9,250,000 USD |
Price Per Unit | $385,417 USD |
Sale Type | Investment |
Cap Rate | 4.49% |
Gross Rent Multiplier | 13.75 |
No. Units | 24 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.46 AC |
Building Size | 24,746 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 1963 |
Parking Ratio | 1.45/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Heating
- Ceiling Fans
- Tile Floors
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Dining Room
- Family Room
- Freezer
- Pantry
Site Amenities
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Spa
- Gated
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+2 | 11 | $1,775 USD | 1,200 |
1+1 | 13 | $1,893 USD | 800 |
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Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (82)
PROPERTY TAXES
Parcel Number | 4323-012-039 | Improvements Assessment | $551,627 USD |
Land Assessment | $341,306 USD | Total Assessment | $892,933 USD |
PROPERTY TAXES
Parcel Number
4323-012-039
Land Assessment
$341,306 USD
Improvements Assessment
$551,627 USD
Total Assessment
$892,933 USD
zoning
Zoning Code | LAR3 |
LAR3 |
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24 Units near Century City | 1830 Greenfield Ave
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