481-Unit Historic Art Deco Multifamily Portfolio in Los Angeles Hits the Market for $83MM
A unique opportunity has emerged for investors looking to capitalize on the thriving Los Angeles multifamily market. A portfolio of 10 multifamily properties, held by the same family office for over 25 years, is now listed for sale. These properties, located in some of the most sought-after neighborhoods in Los Angeles, including Hollywood, Koreatown, Silverlake, Los Feliz, and Hancock Park, are offered at $83,245,000. They can be sold individually or as a bulk purchase.
The portfolio is priced below replacement cost, offering an investment of $173,067 per unit and $273 per square foot. With a current in-place cap rate of 5.36 percent, the portfolio has the potential to stabilize at a pro-forma cap rate of 8.14 percent, presenting a lucrative potential opportunity for investors seeking substantial returns.