Property Detail

Description

Value-add multifamily opportunity featuring a classic 1960s asset offered to the market for the first time, providing a rare chance to reposition and enhance long-term value. Offered to market at a 9.8x GRM, this property features approximately 20% upside to market - and will be delivered with Two (2) Vacant Units - 2BR and Bachelor Unit - ready for immediate in-unit refreshes. 1649 S. La Brea is ideally located in the heart of Mid-City Los Angeles, one of the city’s most dynamic rental submarkets, the property benefits from strong tenant demand, central connectivity, and ongoing neighborhood revitalization. A highly diverse unit mix of Bachelor, 1-, 2-, and 3-bedroom units appeals to a broad tenant base, supporting stable occupancy and leasing flexibility. Additionally, the property has completed the LA Seismic Retrofit Ordinance, with a Certificate of Compliance dated January 25, 2024. Contact Listing Agent for Offering Memorandum containing additional information.