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832 N Edinburgh Avenue

832 North Edinburgh Avenue, Los Angeles, CA, USA

Under Contract

$2,200,000

Property Description

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 832 N Edinburgh Avenue in Los Angeles, California. The subject property is located in a prime Melrose location, north of Melrose Avenue and west of N Fairfax Avenue.

Employment hubs, retail and restaurants draw a diverse crowd to the lively Melrose/Fairfax area. Fairfax Avenue is one of the main north-south thoroughfares throughout Los Angeles; spanning a length of 5 miles, Fairfax is home to historic landmarks like LACMA (Los Angeles County Museum of Art), the Original Farmer’s Market and The Grove, the Melrose Trading Post, CBS Studios, Television City all within only a couple miles from the subject property. This pocket is home to a long-standing Jewish community and offers a ton of kosher dining options. With a walk score of 97, this location offers tenants every amenity required for daily tasks within a very short walk from the building.

Built in 1925, this property contains a solid unit mix of six (6) studio / one-bathroom units and four (4) one-bedroom / one-bathroom units. This asset features four (4) covered garage parking spaces that can potentially be converted into up to eight (8) ADU unit(s) under SB 1211 (recently engrossed on June 12th). Tenants will love living in a quiet residential corridor within only a couple miles from the Sunset Strip, numerous fashion and art stores along Melrose Avenue and Fairfax Avenue, The Comedy Store, Melrose Trading Post, Laurel Hardware, Ysabel, and Blue Bottle Coffee. The neighborhood of Melrose attracts many young professionals given the film, fashion, and art industry presence in this location. Melrose is also in the eighth rated submarket for market asking rents and the sixth rated submarket for twelve (12) month unit absorption according to CoStar.

Situated in a prime Melrose location, this offering presents an excellent opportunity for any investor to capitalize on a property with tremendous upside potential and the potential to convert the garages into multiple ADU unit(s).

Contact Agent

Jason Tuvia | Nick Mejerski

818.212.2728

Unit Mix

Six (6) Studio / One-Bathroom Units & Four (4) One-Bedroom / One-Bathroom Units

Property Type

Multifamily

Submarket

Price

Size

4,752 SF

Total Units

Year Built

1925

Property Location

832 North Edinburgh Avenue, Los Angeles, CA, USA

Property Description

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 832 N Edinburgh Avenue in Los Angeles, California. The subject property is located in a prime Melrose location, north of Melrose Avenue and west of N Fairfax Avenue.

Employment hubs, retail and restaurants draw a diverse crowd to the lively Melrose/Fairfax area. Fairfax Avenue is one of the main north-south thoroughfares throughout Los Angeles; spanning a length of 5 miles, Fairfax is home to historic landmarks like LACMA (Los Angeles County Museum of Art), the Original Farmer’s Market and The Grove, the Melrose Trading Post, CBS Studios, Television City all within only a couple miles from the subject property. This pocket is home to a long-standing Jewish community and offers a ton of kosher dining options. With a walk score of 97, this location offers tenants every amenity required for daily tasks within a very short walk from the building.

Built in 1925, this property contains a solid unit mix of six (6) studio / one-bathroom units and four (4) one-bedroom / one-bathroom units. This asset features four (4) covered garage parking spaces that can potentially be converted into up to eight (8) ADU unit(s) under SB 1211 (recently engrossed on June 12th). Tenants will love living in a quiet residential corridor within only a couple miles from the Sunset Strip, numerous fashion and art stores along Melrose Avenue and Fairfax Avenue, The Comedy Store, Melrose Trading Post, Laurel Hardware, Ysabel, and Blue Bottle Coffee. The neighborhood of Melrose attracts many young professionals given the film, fashion, and art industry presence in this location. Melrose is also in the eighth rated submarket for market asking rents and the sixth rated submarket for twelve (12) month unit absorption according to CoStar.

Situated in a prime Melrose location, this offering presents an excellent opportunity for any investor to capitalize on a property with tremendous upside potential and the potential to convert the garages into multiple ADU unit(s).

Contact Agent

Jason Tuvia | Nick Mejerski

818.212.2728

(818) 448-4415

CalBRE #01772495

Unit Mix

Six (6) Studio / One-Bathroom Units & Four (4) One-Bedroom / One-Bathroom Units

Property Details

Property Type

Multifamily

Submarket

Melrose

Price

$2,200,000

Price per Unit

$220,000

Price per SF

$462.96

Status

Under Contract

Size

4,752 SF

Total Units

10

Year Built

1925

Property Location

832 North Edinburgh Avenue, Los Angeles, CA, USA

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