$5,650,000
Est. payment /mo
26,096 SqFt
Active
2268 W 14th Street Los Angeles, CA 90006
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 26,096 sqft
Price per Sqft $216
MLS Listing ID CL25517287
HOA Y/N No
Year Built 1928
Lot Size 0.310 Acres
Acres 0.31
Property Sub-Type Other
Property Description
We are excited to present Sylvester Apartments, a 47-unit multifamily investment opportunity in the heart of Pico-Union. Positioned between W Pico Blvd and Venice Blvd, this well-maintained property offers a compelling blend of strong in-place cash flow and value-add potential. The unit mix consists of 46 singles and one one-bedroom, currently operating at a 6.56% CAP rate and 7.90 GRM at the asking price, with an additional 16% rental upside as units turn. Adding to its appeal, the offering includes an adjacent 6,000 SF parking lot with 24 spaces, generating $2,500 in monthly income. Further upside may be possible with the potential for an additional ADU (Buyer to verify). Sylvester Apartments is separately metered for electricity and features an on-site community laundry room leased with Wash, offering four washers and four dryers. With a high Walk Score of 89, residents enjoy convenient access to Metro rail and bus lines, as well as major freeways, providing easy connectivity to Downtown LA, Koreatown, Westlake, and Mid-City. Additionally, the property is just half a mile from Loyola High School, enhancing its desirability for long-term tenancy in this dense, infill Los Angeles location.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5056005015
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Listed by Neema Ahadian • Marcus & Millichap