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9581 Alcott Street

Los Angeles, CA
Price:
$9,750,000
Units:
16
GRM:
16.52
Cap Rate:
3.69
Gross Rentable Area
26,975

INVESTMENT OVERVIEW

Marcus & Millichap is pleased to present 9581 Alcott Street, a three story, 16 unit apartment building located in the Beverlywood neighborhood of Los Angeles 9581 Alcott St is located in one of the best pockets in the city of Los Angeles, and is in a very strong rental market The Building consists of Fourteen 14 Two Bedroom/Two Bathroom units, One 1 Two Bedroom/Two and Two Half Bathroom Townhouse, and One 1 Three Bedroom/Two Bathroom unit All the units are extremely spacious averaging over 1400 square feet each In addition to the spaciousness, tenants are also attracted to the property with its diverse amenity package including central A/C, 28 gated parking spaces, fireplaces, balconies, and a bar area in each unit The property has tremendous upside for an investor to renovate the units and raise rents as units vacate. Additionally, a buyer will benefit from taking over the property with 7 vacancies to begin remodeling right away

9581 Alcott is located just two blocks west of Beverly Drive and less than one block south of Pico This investment presents an excellent opportunity to own a beautifully maintained property, in one of the most prime sub markets of Los Angeles The buildings close proximity to Wilshire and Olympic Boulevard offers easy access to Beverly Hills, Beverly Grove and West Hollywood with all of their unique and fine destinations Century City Mall, The Beverly Center and Grove Malls are only a short drive away along with the countless other fine dining and shopping options this exquisite area has to offer

This is an incredible opportunity to own an extremely well located apartment building in an area where turnover is rare Additionally, an astute investor will capitalize on the immediate upside offered by taking over the property with 7 vacancies.

INVESTMENT HIGHLIGHTS

Superb Beverlywood Location Very Low Turnover

 16 Units Built in 1971

 Excellent Unit Mix (Units Average over 1400 SF Each)

 28 On Grade Parking Spaces (22 Individual and 6 Tandem)

 Extremely Spacious Units with Central A/C, Bar Area, Fireplaces, and Balconies

 Delivered with 7 Vacancies

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