Property Description

I am pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential. Situated on a 7,239 square foot parcel, the property comprises of four one-bedroom units, three two-bedroom units, and one three-bedroom unit (The three-bedroom unit is currently a two-bedroom den with potential to convert to a three-bedroom). Current ownership has extensively renovated three of the eight units at the property including adding stainless steel appliances, new cabinetry, new flooring, quartzite counter-tops, new ceiling fans, and upgraded lighting and is achieving premiums over the average in-place rents: $924 for one-bedroom units and $721 for two bedroom units. Additionally, current ownership has already completed the seismic retrofit work.

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Additional Information
Marcus & Millichap
0
CLW-C107850
CLW-X7515101
Sean
5086014001
: Standard
32

Multi-Family For Sale

5801 Packard Street, Los Angeles, California 90019

8,300 Sqft
$3,190,000
Listing ID #21677840
Basic Details
Status : Active
DaysOnMarket : 0
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : 21677840
Price : $3,190,000
Living Area : 8,300 Sqft
Lot Size : 7,239 Sqft
Year Built : 1963
Price Per Square Foot : $384
ModificationTimestamp : 2021-01-16 06:56:55
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