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5-Unit Value-Add Opportunity | Mid-City 5076-5084 Pickford St 5 Unit Apartment Building $2,051,520 CAD ($410,304 CAD/Unit) 6.55% Cap Rate Los Angeles, CA 90019
Investment Highlights
- Mid-City offers strong value for tenants priced out of neighboring Country Club Park, Lafayette Square, and Miracle Mile
- Long term ownership - property has been owned for 25 years, offering a rare acquisition opportunity
- New ownership has potential to add Accessory Dwelling Units (ADUs) for added future growth and appreciation potential – buyer to verify
- Near world-class shopping, dining, museums, entertainment, and employment across Mid-City, Miracle Mile, West Adams, and Koreatown
- The property is being offered at an attractive cap rate of 6.55%
Executive Summary
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a five-unit apartment community located at 5076 Pickford Street. The subject property is located south of Venice Boulevard and north of Washington Boulevard.
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 6,129 square foot parcel, the property is comprised of three one-bedroom units and two two-bedroom units. The property has 15.44% remaining rental upside through unit renovations along with on-site garages being individually rented for additional income.
5076 Pickford Street 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 5076 Pickford Street an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
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 6,129 square foot parcel, the property is comprised of three one-bedroom units and two two-bedroom units. The property has 15.44% remaining rental upside through unit renovations along with on-site garages being individually rented for additional income.
5076 Pickford Street 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 5076 Pickford Street an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
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Property Facts
| Price | $2,051,520 CAD | Building Class | C |
| Price Per Unit | $410,304 CAD | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 4,405 SF |
| Cap Rate | 6.55% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.98 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1949 |
| Property Type | Multifamily | Parking Ratio | 1.14/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 | ||
| Price | $2,051,520 CAD |
| Price Per Unit | $410,304 CAD |
| Sale Type | Investment |
| Cap Rate | 6.55% |
| Gross Rent Multiplier | 11.98 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,405 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 1.14/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5067-017-001 | Improvements Assessment | $190,624 CAD |
| Land Assessment | $762,558 CAD | Total Assessment | $953,183 CAD |
Property Taxes
Parcel Number
5067-017-001
Land Assessment
$762,558 CAD
Improvements Assessment
$190,624 CAD
Total Assessment
$953,183 CAD
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5-Unit Value-Add Opportunity | Mid-City | 5076-5084 Pickford St
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