1138 S Corning St - Apartments FOR SALE


Los Angeles, CA 90035- Pico-Robertson
$11,995,000 USD
310-926-5181
1138 S Corning St, Los Angeles, CA for Sale
$11,995,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

1138 S Corning St
Los Angeles, CA 90035
Pico-Robertson


HIGHLIGHTS

  • Rare 27-Unit Value-Add Opportunity - Meaningful upside through renovations and operational improvements.
  • Prime Pico-Robertson Location Minutes from Beverly Hills, Century City, Culver City, Miracle Mile, and Mid-Wilshire.
  • Oversized Unit Layouts with large one-, two-, and three-bedroom units with strong renter appeal.
  • 30 Secured Parking Spaces - Gated on-site parking in a highly desirable infill market.
  • Recent Capital Improvements - Soft-story retrofit, newer roof, newer boilers, and repaved parking area.
  • Individually Metered Utilities - Each unit is separately metered for electric and gas.

OVERVIEW

Kidder Mathews is pleased to present the opportunity to acquire Landmark Apartments, a 27-unit multifamily asset located at 1138 S Corning St in Los Angeles, CA. The property is ideally positioned in the highly desirable Pico-Robertson submarket, just moments from Beverly Hills, Beverlywood, Century City, Miracle Mile, and Culver City. The location offers residents immediate access to some of Los Angeles’ most prominent employment centers, retail corridors, restaurants, entertainment, and neighborhood amenities. Originally built in 1965, Landmark Apartments consists of 27 well-designed units with a highly attractive unit mix of (12) one-bed/one-bath units, (14) two-bed/two-bath units, and (1) three-bed/two-bath unit. The property totals approximately 29,942 SF on a sizable 20,163 SF lot, offering spacious layouts, on-site laundry facilities, and 30 parking spaces, a valuable amenity in this dense infill location. The property also features massive oversized units, with the majority of units offering private balconies or patios, wall A/C units, secure building entry, video surveillance, and secured gated parking with remote access. The offering presents investors with a compelling value-add opportunity through a strategic renovation and repositioning program. A new owner has the ability to renovate unit interiors, enhance common areas, modernize the overall property presentation, and capture significant rental upside as units turn. With oversized floor plans, private balconies or patios in the majority of units, secured parking, and individually metered electric and gas, Landmark Apartments provides a strong foundation for both near-term income growth & long-term value creation. Landmark Apartments offers investors the opportunity to acquire a well-located multifamily asset in a supply-constrained, Westside-adjacent rental market with strong renter demand and limited new supply. The property’s desirable unit mix, larger-than-average layouts, secure parking, and proven in-place income make it a compelling investment opportunity with meaningful upside through continued operational improvements and strategic capital enhancements.

FOR SALE DETAILS

PRICE

$11,995,000 USD

PRICE/SF

$393 USD /SF

# OF UNITS

27

PRICE/UNIT

$444,259

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Landmark Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

LAR3

APN/PARCEL ID

4332-029-019

ASK ABOUT THIS PROPERTY

Janet NemanKidder MathewsMore Info
310-926-5181

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Janet NemanKidder MathewsMore Info
310-926-5181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.