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(818) 212 - 2784
(818) 943 - 2319

8355 Blackburn Ave

Los Angeles, CA 90048
Price:
$7,000,000
Units:
21
GRM:
18.46
Cap Rate:
3.02%
Gross Rentable Area
13,939

Property Overview

The property features 13,939 square feet of rentable area and is situated on a large 14,198-square foot double lot. The 21-unit building is composed of two studio/one-bathroom units, 17 one-bedroom/one-bathroom units and two two-bedroom/two-bathroom units. The building is well-maintained and offers on-site parking, a swimming pool and laundry facilities for tenants.

The property is situated in one of the trendiest locations in Los Angeles, sitting just south of 3rd Street, sandwiched between Orlando Avenue to the west and Sweetzer Avenue to the east. This prime location offers a tremendous amount of dining, shopping, and entertainment destinations in walking distance of the property, while being a short commute to major employment centers such as Century City, Beverly Hills, West Hollywood, Hollywood and Downtown Los Angeles.

8355 Blackburn Avenue offers tenants excellent proximity to some of Los Angeles’ finest amenities such as The Beverly Center, The Pacific Design Center, Melrose Avenue, the Sunset Strip, Restaurant Row on La Cienega, the world renowned shopping center, The Grove, LA County Museum of Art (LACMA) and others. Nearby grocers include Trader Joe’s, Whole Foods Market and Ralphs. Local dining options include The Little Door, Toca Madera, Son of a Gun, The IZAKA-YA by KATSU-Ya, Gusto, Farmhouse The Nice Guy and many more.

Due to the property’s premier location and rental upside, 8355 Blackburn Avenue offers a unique opportunity to any investor looking to acquire a well-maintained asset in one of the trendiest submarkets of Los Angeles.

Investment Highlights

  • First Time on the Market Since Construction - 63 Years!
  • Excellent Unit Mix Composed of Bachelor/Studios, One-Bedroom and Two-Bedroom Units.
  • Seismic Retrofit Work has Been Completed!
  • Over 55% in Rental Upside Through Renovation - a True Value- Add Opportunity.
  • Property Includes On-Site Laundry Facilities and Parking for Tenants.
  • Select Units Have Private Balconies.
  • Center Courtyard With Swimming Pool!
  • Separately Metered for Gas and Electric.
  • Situated on a Large 14,198-Square Foot Double Lot Zoned LAR3!
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