3109 George St - Apartments FOR SALE


Los Angeles, CA 90031- Montecito Heights
$500,000 USD
818-212-2694
3109 George St, Los Angeles, CA for Sale
$500,000 USD
Apartments - FOR SALE
1/5
null | 6.07% Cap Rate

3109 George St
Los Angeles, CA 90031
Montecito Heights


HIGHLIGHTS

  • Offered At an Attractive Basis
  • 74% Upside in Rents
  • Four (4) Spacious One-Bedroom Units
  • Two Separate Parcels Totaling Approximately 9,000 Square Feet
  • Potential For ADUs or Future Development

OVERVIEW

Marcus & Millichap presents 3109 George Street, a four-unit multifamily investment opportunity located in Lincoln Heights, one of Los Angeles’ most historic and rapidly evolving neighborhoods. The offering consists of two separate parcels totaling approximately 9,000 square feet of land. The four-unit building is situated on the front parcel and features four (4) spacious one-bedroom units totaling 2,704 square feet. The separate rear parcel provides investors with an opportunity to explore additional development or other value-add possibilities. The property represents an exceptionally attractive basis of $125,000 per unit and $185 per square foot of building area. With approximately 74% upside in rental income, investors have a compelling opportunity to substantially increase cash flow as units turn over. 3109 George Street is conveniently located near the USC Health Sciences Campus, Lincoln Park and the Metro A Line, providing convenient access to Downtown Los Angeles and several major employment and transportation corridors. The property is also situated near A34, a five-acre, transit-oriented development featuring 468 residential units and approximately 16,000 square feet of retail space near the Heritage Square Metro station. With its two-parcel configuration, significant rental upside, attractive price per unit and potential for future development, 3109 George Street presents a rare opportunity to acquire a multifamily asset at an exceptionally low basis in a neighborhood poised for continued growth.

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

4

PRICE/UNIT

$125,000

CAP RATE

6.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3109 George St | 4 Units | Lincoln Heights

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,000 SF

ZONING

LARD3

APN/PARCEL ID

5208-001-029

ASK ABOUT THIS PROPERTY

Sevak KeshishianThe SK Group of Marcus & MillichapMore Info
818-212-2694

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Sevak KeshishianThe SK Group of Marcus & MillichapMore Info
818-212-2694

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