75
See all 75 photos
$8,600,000
Est. payment /mo
10 Beds
58 Baths
41,875 SqFt
New
2000 Arlington AVE Los Angeles, CA 90018
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 41,875 sqft
Price per Sqft $205
MLS Listing ID 26103535
Bedrooms 10
HOA Y/N No
Year Built 1928
Lot Size 0.291 Acres
Property Description
We are pleased to present 2000 Arlington Avenue, a 58-unit multifamily investment opportunity in Los Angeles. The property sits on a 12,661 square foot lot with 41,875 square feet of gross building area, originally constructed in 1928 as a five-story, brick construction building situated within a Historic Preservation Overlay Zone (HPOZ). The unit mix consists of 4 bachelors, 44 singles, and 10 one-bedroom plus one-bath units, providing an incoming owner with diversified unit types, broad tenant appeal, and a mix of rental price points across the rent roll. Recent capital improvements include a replaced elevator cabin and new electrical panel within the last 4 years and a roof replacement within the last 5 years, reducing near-term capital expenditure requirements for a new ownership group. The property is master metered for gas and electric, equipped with a fire alarm system, and features all hardwood floors throughout the units, with 2 on-site Tesla charging spaces adding further tenant appeal. On-site income generating amenities include an owner-operated laundry room with 4 washers and 4 dryers and 20 storage units, providing additional revenue streams beyond base rental income. At a purchase price of $8,600,000 ($148,276 per unit), the offering reflects a 7.92% current cap rate and a 7.92 GRM. With approximately 22.8% rental upside to market, an investor can achieve a pro forma cap rate of 10.55% and a 6.44 GRM through continued lease up to market rents. 2000 Arlington Avenue represents a rare opportunity to acquire a large-scale, income producing asset in Los Angeles with recent capital improvements already in place and meaningful upside remaining through continued rental growth to market levels. The property is located in the Arlington Heights neighborhood of Los Angeles, within close proximity to the University of Southern California, Exposition Park, and the Metro E (Expo) Line, placing the asset in a submarket benefiting from sustained renter demand driven by the university population and ongoing institutional and infrastructure investment along the Washington Boulevard and Western Avenue corridors.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5073026001
Special Listing Condition Standard
Listed by Neema Ahadian Marcus & Millichap #01346750
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