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$6,950,000
Est. payment /mo
13,674 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,674 sqft
Price per Sqft $508
MLS Listing ID CL25572129
HOA Y/N No
Year Built 1989
Lot Size 0.260 Acres
Acres 0.26
Property Sub-Type Other
Property Description
We are pleased to present The Marq, a 24-unit multifamily investment opportunity located in the heart of Highland Park at 117 S Avenue 64, just south of York Boulevard and east of North Figueroa Street. Built in 1989, the property is exempt from the Los Angeles Rent Stabilization Ordinance, offering investors greater flexibility and income potential. The Marq features a highly desirable unit mix of 16 one-bedroom and eight two-bedroom apartments, with gated ground-level parking comprising 14 single spaces and 12 tandem spaces. This offering provides immediate strong in-place cash flow with a current 5.89% CAP rate and 10.51 GRM, and is priced attractively at $289,583 per unit. Most of the units have been extensively renovated and include modern finishes such as stainless steel appliances, quartz countertops, upgraded cabinetry, vinyl plank flooring, and central air conditioning. Second-floor units boast vaulted ceilings and private balconies, enhancing the tenant living experience. The secured-entry property also includes a community laundry room with two washers and two dryers. Positioned in one of Northeast Los Angeles' most vibrant and rapidly appreciating neighborhoods, The Marq benefits from strong rental demand and robust local demographics, with average household incomes a
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5492035033
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Listed by Neema Ahadian • Marcus & Millichap
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