The Palmwood Collection Multi-Family FOR SALE


Los Angeles, CA - Crenshaw
$6,800,000 USD
310-480-2130
, Los Angeles, CA for Sale
$6,800,000 USD
Multi-Family - FOR SALE
1/14
null | 7.12% Cap Rate

The Palmwood Collection
Los Angeles, CA
Crenshaw


HIGHLIGHTS

  • Portfolio listed at a blended 7.10% Cap Rate and 9.26 GRM!
  • Three properties available for purchase together, all within walking distance on Palmwood Drive!
  • Terrific Central LA location, close to major employment centers and transit hubs.
  • Baldwin Village is benefiting from over $5B in major public works projects nearby.
  • RTI permits available to add four ADUs!

OVERVIEW

The Cohen Group is pleased to present our latest multifamily investment opportunity, The Palmwood Collection. This cluster of multifamily properties is in Baldwin Village, located at 4106, 4112, and 4142 Palmwood Drive. 34 units in total, this investment is priced at a blended 7.12% Cap Rate and 9.27 GRM, with projected rental upside of about 18% for a new owner. In addition, there are RTI permits to add four ADU's in some of the existing garage space, allowing a Buyer to continue adding value above. The buildings are on separate parcels, providing a future owner the ability to sell individually to help avoid ULA Tax (Buyer to verify). Acquiring three properties all within walking distance on the same street affords an investor the ability to cut down on operational overhead, bolstering NOI. The units are comprised of: (1) 3 bed unit, (31) 1 bed units, and (2) Studio units, many of which have attractive kitchen and bathroom finishes. Most of the units are rented to established Section 8 tenants. The Palmwood Collection is surrounded by terrific amenities, allowing tenants to accomplish most errands and daily tasks on foot, cutting down on the need for parking. Transit options are also exceptional, with terrific access to bus stops and metro rail lines. The Baldwin Village area is experiencing a resurgence of investment activity, in addition to nearby Culver City and West Adams. Spurred by many transit- oriented developments, there are north of $5B in recent nearby developments that will transform the area for years to come.

ASK ABOUT THIS PROPERTY

Joshua CohenThe Cohen GroupMore Info
310-480-2130

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Joshua CohenThe Cohen GroupMore Info
310-480-2130

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