815 Green Ave - Apartments FOR SALE


Los Angeles, CA 90017- City West
$2,350,000 USD
424-653-1854
815 Green Ave, Los Angeles, CA for Sale
$2,350,000 USD
Apartments - FOR SALE
1/15
null | 7.63% Cap Rate

815 Green Ave
Los Angeles, CA 90017
City West


HIGHLIGHTS

  • Charming 24-unit apartment community located minutes from Downtown Los Angeles, Koreatown, Echo Park, and Silver Lake
  • Attractive basis at $97,917 per unit and $208 per square foot
  • Strong in-place cash flow with a 7.63% going-in cap rate and low 6.87 current GRM
  • Large, detached garage offers potential for future ADU conversion, subject to buyer verification
  • Walking distance to LA Live, Crypto.com Arena, and LA Convention Center
  • This Property is being offered concurrently with 672 N Kenmore Ave, 4160 Rosewood Ave, and 1408 S Wilton Pl (99 units in total)

OVERVIEW

Kidder Mathews, as exclusive listing agent, is pleased to present 815 Green Avenue, a 24-unit apartment community located in Los Angeles' City West neighborhood, offered for sale for the first time in over 30 years. THE ASSET Offered for sale for the first time in over 30 years, 815 Green Ave is a charming 24-unit apartment community providing investors with an attractive combination of strong in-place cash flow and future value-add potential. The Property is offered at an attractive basis of approximately $98,000 per unit and $208 per square foot while delivering an impressive going-in cap rate of 7.63% and current GRM of 6.87. Comprised of 18 large bachelor and 6 studio units, the Property offers classic art deco architecture, mature landscaping, and a secure living environment for residents. Additional amenities include on-site laundry facilities and six enclosed garage parking spaces located within a large detached garage structure at the rear of the Property. The detached garage structure, comprised of three two-car garages, may present a compelling opportunity for future ADU development. The Property is master metered for gas and electricity and offers investors a rare opportunity to acquire a well-located asset with both strong day-one cash flow and long-term upside. THE NEIGHBORHOOD 815 Green Ave is ideally situated on a quiet residential street in the City West neighborhood, one of Los Angeles' most centrally located and rapidly evolving rental submarkets. Residents enjoy convenient access to Downtown Los Angeles, Koreatown, Echo Park, Silver Lake, and numerous major employment centers throughout the region. The Property is located within walking distance of LA Live, Crypto.com Arena, and the Los Angeles Convention Center, placing residents near some of Southern California's premier entertainment, dining, and employment destinations. The surrounding area continues to benefit from ongoing investment and redevelopment fueled by its proximity to Downtown Los Angeles and the expanding urban core. The neighborhood's central location, strong transit connectivity, and close proximity to some of Los Angeles' most sought-after lifestyle destinations continue to drive robust rental demand. As a result, the area attracts a diverse tenant base seeking convenient access to employment, entertainment, and cultural amenities throughout Los Angeles.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$208 USD /SF

# OF UNITS

24

PRICE/UNIT

$97,917

CAP RATE

7.63%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,533 SF

ZONING

LAR3

APN/PARCEL ID

5142-018-012

ASK ABOUT THIS PROPERTY

Darin BeebowerKidder MathewsMore Info
424-653-1854

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Darin BeebowerKidder MathewsMore Info
424-653-1854

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