4121 Marmion WAY

LOS ANGELES, CA, 90065

$4,230,000

$352 per ft²
$4,230,000
$352 per ft²
Active
Active
 - For Sale
carpenters-square
11,984 ft²
property_type
Multi-family
calendar
Built 1965
4121 Marmion Way, a 16-unit Value-Add apartment in the desirable Mount Washington neighborhood of Los Angeles. This well-maintained property is located right off Figueroa St and at the border of Highland Park and South Pasadena. It is surrounded by mature residential neighborhood and within walking distance to many attractions in Mount Washington area (Lumis House, Southwest Museum, and Metro Gold Line Heritage Square Station). This is the first time the property has been offered for sale for more than 10 years. The property is a two-story garden style apartment. It offers an excellent curb appeal and is very well maintained with serene center courtyard. It was built in 1965, has a total of 11,984sqft building size, and situated on a large 17,441SF lot. The property has a new roof that was installed in 2021 and several front windows have been upgraded with dual pane windows. It offers an excellent unit mix of eight (8) large 2bedroom+1bathroom, and eight (8) 1bedroom+1bathroom units. One unit is currently vacant and can be delivered vacant at close of escrow (there is a 2nd unit that has given notice). The 2bedroom units are large with excellent layout (estimated size are 925-950SF). None of the units have been upgraded which provides an excellent opportunity for value-add work by the new owner. The current rental income is significantly below market (est. about 44%). Each unit is individually metered for electricity and gas. There are 16 open parking spaces in the back (no soft story retrofit is required) with alley access to the parking lot. The property is serviced by a master water heater, and shared laundry room (laundry lease expires 2023).
MLS® ID:
AR22080818MR
Listed:
4/19/22
Updated:
8/10/22

Interior Features

Kitchen Appliances
Range
Total Bedrooms
0
Total Bathrooms
0
Laundry Description
None
Fireplace
None
Cooling
Wall/Window Unit(s)
Heating
Wall

Exterior/Building Features

Lot Size
0.4 acres lot
Sewer
Public Sewer

Other Property Details

Garage
No
Parking
Assigned
Parking Total
16.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
LAR1
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