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607 West 41st Place

607 West 41st Place, Los Angeles, CA, USA

Under Contract

$2,475,000

Property Description

Marcus and Millichap is pleased to present a five (5) unit brand new construction apartment building located at 604 West 41st Place in Los Angeles, California. The subject property is situated in a prime South Los Angeles Location, south of W Martin Luther King Jr Boulevard and east of S Hoover Street.

South LA is a large region of Los Angeles made up of the neighborhoods south of Downtown L.A. This area is multi-culturally and economically diverse and offers residents a dense suburban feel in a historic market of Los Angeles. Residents can take advantage of the area’s many food and entertainment spaces within walking distance of the subject properties. The more noteworthy news for the area is the great revitalization plan for South L.A. For the first time in decades, major development projects are underway in South L.A. Most prominently, an incredible state of the art NFL stadium just opened in Inglewood-- and it will be surrounded by a planned community made up of thousands of new homes. But the development wave doesn’t stop there. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from West Adams to Watts. The county and Metro are teaming up to find a developer to build 492 residential units, a grocery store, theater, and locally-owned restaurants located at 3606 West Exposition Boulevard. The Lucas Museum of Narrative Art, South L.A. Wetlands Park, Hollywood Park, Clipper’s Arena, and Magic Johnson Park are some more examples of developments currently underway.

Built in 2023, this brand new multifamily property contains an incredible unit mix of one (1) two-bedroom / one-bathroom ADU unit, two (2) three-bedroom / three-bathroom units, and two (2) four-bedroom / four-bathroom units all spread across a total of two (2) buildings. These large townhouse style units feature spacious floor plans with four (4) units going up three (3) stories each. With USC only one (1) mile away, this is an excellent off-campus housing option for USC students. Working professionals will also appreciate being less than four (4) miles from Downtown. Outdoor recreation is available right down the street Exposition Park featuring the Banc of California (newly rebranded as BMO) Stadium, LA Memorial Coliseum, California Science Center, Museum of LA County, and more. The property is just a very easy bike ride away from USC. Solid retail and restaurant amenities are available across numerous surrounding commercial corridors such as Vermont Avenue and W Martin Luther King Jr Boulevard, which is accessible within short walking distance.

Situated in a prime South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on a non rent controlled, brand new construction asset in a rapidly gentrifying market of Los Angeles.

Contact Agent

Jason Tuvia

818.212.2735

Unit Mix

Two (2) 3-Bedroom / 3-Bathroom Units, Two (2) 4-Bedroom / 4-Bathroom Units, & One (1) 2-Bedroom / 1-Bathroom ADU Unit

Property Type

Multifamily

Submarket

Price

Size

6,400 SF

Total Units

Year Built

2023

Property Location

607 West 41st Place, Los Angeles, CA, USA

Property Description

Marcus and Millichap is pleased to present a five (5) unit brand new construction apartment building located at 604 West 41st Place in Los Angeles, California. The subject property is situated in a prime South Los Angeles Location, south of W Martin Luther King Jr Boulevard and east of S Hoover Street.

South LA is a large region of Los Angeles made up of the neighborhoods south of Downtown L.A. This area is multi-culturally and economically diverse and offers residents a dense suburban feel in a historic market of Los Angeles. Residents can take advantage of the area’s many food and entertainment spaces within walking distance of the subject properties. The more noteworthy news for the area is the great revitalization plan for South L.A. For the first time in decades, major development projects are underway in South L.A. Most prominently, an incredible state of the art NFL stadium just opened in Inglewood-- and it will be surrounded by a planned community made up of thousands of new homes. But the development wave doesn’t stop there. New restaurants, grocery stores, and shops are in the pipeline for neighborhoods from West Adams to Watts. The county and Metro are teaming up to find a developer to build 492 residential units, a grocery store, theater, and locally-owned restaurants located at 3606 West Exposition Boulevard. The Lucas Museum of Narrative Art, South L.A. Wetlands Park, Hollywood Park, Clipper’s Arena, and Magic Johnson Park are some more examples of developments currently underway.

Built in 2023, this brand new multifamily property contains an incredible unit mix of one (1) two-bedroom / one-bathroom ADU unit, two (2) three-bedroom / three-bathroom units, and two (2) four-bedroom / four-bathroom units all spread across a total of two (2) buildings. These large townhouse style units feature spacious floor plans with four (4) units going up three (3) stories each. With USC only one (1) mile away, this is an excellent off-campus housing option for USC students. Working professionals will also appreciate being less than four (4) miles from Downtown. Outdoor recreation is available right down the street Exposition Park featuring the Banc of California (newly rebranded as BMO) Stadium, LA Memorial Coliseum, California Science Center, Museum of LA County, and more. The property is just a very easy bike ride away from USC. Solid retail and restaurant amenities are available across numerous surrounding commercial corridors such as Vermont Avenue and W Martin Luther King Jr Boulevard, which is accessible within short walking distance.

Situated in a prime South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on a non rent controlled, brand new construction asset in a rapidly gentrifying market of Los Angeles.

Contact Agent

Jason Tuvia

818.212.2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Two (2) 3-Bedroom / 3-Bathroom Units, Two (2) 4-Bedroom / 4-Bathroom Units, & One (1) 2-Bedroom / 1-Bathroom ADU Unit

Property Details

Property Type

Multifamily

Submarket

South Los Angeles

Price

$2,475,000

Price per Unit

$495,000

Price per SF

$386.72

Status

Under Contract

Size

6,400 SF

Total Units

5

Year Built

2023

Property Location

607 West 41st Place, Los Angeles, CA, USA

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