285 Unit Portfolio
Hollywood / Koreatown
14 Separate Properties
CAP Rate: 4.95%
Cost Per Unit: $158,245
Average Rents: $1,093
Cost Per SF: $239.40
Close: 60 Day Close
Terms: All Cash
285 U Portfolio, Hollywood/Koreatown
Sold For $45,100,000. 14 Separate Proeprties
Arthur Arejian of Vanguard Investments Inc., as exclusive listing agent, is pleased to present an opportunity to purchase 14 separate multifamily assets in a portfolio offering located in Los Angeles County, with almost all the properties located within the Hollywood/Korea Town Sub markets. The portfolio consists of 285 total units.
Sold For $45,100,000 million dollars, this portfolio offers a unique blend of properties, all very well maintained, and performing extremely well with respect to the history of occupancy, and collections portfolio wide at around 98%-99% occupancy and collections.
Most of the properties have been renovated, many of the units have been renovated as the quality of the properties, and units in this portfolio have been maintain in very high standard of quality. As this landlord is an efficient operator, offers an incredible product to the tenant pool by offering a high quality unit, customer service second to none, with an excellent resident experience.
THE SUB MARKET
Being that these properties are so well located in the Hollywood, Los Feliz, Korea Town sub markets, currently known to be one of the tightest rental submarkets in Los Angeles County with respect to rental growth, occupancy, and overall collections. This Portfolio is set to take advantage of the incredible market conditions, with all economic indicators leading to a robust future for this portfolio with rent growth, and the inherent in-place cash flow that it offers to an investor.
By all multifamily economists standards, LA County, and more importantly Hollywood/Korea Town sub Markets are poised to reap the benefits of a robust market in the next 5 years, with strong demand for rent growth, and high occupancy. This combination along with in place assumable DEBT makes this portfolio and incredible opportunity for an experienced astute multifamily investor.