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815 N Benton Way

Los Angeles (City), CA 90026
  • $2,250,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: 21106931
$2,250,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Listing Agent: Sean Rosenzweig of Marcus & Millichap


Description

I am pleased to present for sale 815 North Benton Way, a nine-unit apartment community located just steps from vibrant Sunset Junction. As one of Los Angeles' most walkable neighborhoods, this submarket's popularity and rental demand has grown significantly over the years with artisanal coffee shops, headlined by popular chain, Intelligentsia, in the immediate area. It has become clear that the all-day foot traffic, desirability and growth of the area is on an undeniable trajectory. Built in 1965, Benton Way consists of three one-bedroom units and six two-bedroom units with partial on-site parking. Current tenants are paying an average rent of $841, which is $1,792 below the market rates similar properties are asking for in the immediate area. By bringing in-place rents to market rates and capturing the estimated 164% rental upside, a savvy investor can generate an unprecedented 9.01% CAP and 7.91 GRM for this investment. Investors will have the opportunity to implement a comprehensive interior and exterior renovation program to re-position the property and increase rental income. 815 North Benton is well positioned to provide remarkable rental upside and appreciation potential. ALL BUYERS MUST TOUR PRIOR TO SUBMITTING AN OFFER.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T00:27:26.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/123446893
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815 N Benton Way Los Angeles (City), CA 90026

  • Price: $2,250,000
  • Status: Active
  • On Site: 14 Days
  • ID#: 21106931
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1965
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
I am pleased to present for sale 815 North Benton Way, a nine-unit apartment community located just steps from vibrant Sunset Junction. As one of Los Angeles' most walkable neighborhoods, this submarket's popularity and rental demand has grown significantly over the years with artisanal coffee shops, headlined by popular chain, Intelligentsia, in the immediate area. It has become clear that the all-day foot traffic, desirability and growth of the area is on an undeniable trajectory. Built in 1965, Benton Way consists of three one-bedroom units and six two-bedroom units with partial on-site parking. Current tenants are paying an average rent of $841, which is $1,792 below the market rates similar properties are asking for in the immediate area. By bringing in-place rents to market rates and capturing the estimated 164% rental upside, a savvy investor can generate an unprecedented 9.01% CAP and 7.91 GRM for this investment. Investors will have the opportunity to implement a comprehensive interior and exterior renovation program to re-position the property and increase rental income. 815 North Benton is well positioned to provide remarkable rental upside and appreciation potential. ALL BUYERS MUST TOUR PRIOR TO SUBMITTING AN OFFER.
Exterior Features

Parking Features Covered Parking Total 8

Property Features

Association Fee 0 Gross Income 107721 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 41275 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lard2



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-04T00:27:26.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: Sean Rosenzweig of Marcus & Millichap