4121 Marmion WayLos Angeles, CA 90065

This 16-unit apartment building in Los Angeles' Mount Washington neighborhood presents a compelling value-add investment opportunity. Boasting a 9.48% pro-forma cap rate and a current NOI of $203,251, the property offers significant upside potential. Currently at 69% occupancy, five units (31%) are vacant and deliverable vacant at closing, allowing for immediate rent increases. The two-story, 11,984 square foot building sits on a large 17,441 square foot lot and includes 16 units and 16 parking spaces. Built in 1965, the property has undergone several improvements, including a new roof (2021), upgraded front windows, and a completed seismic retrofit (2015). The unit mix consists of a combination of one and two-bedroom units, many of which are spacious. Individual gas and electric meters are in place, along with a shared laundry room (with seller-owned machines). The property's excellent location, bordering Highland Park and South Pasadena, offers convenient access to the Figueroa Street retail corridor, the Metro Gold Line Station, and nearby attractions like the Southwest Museum and Lumis House. The area features a mature residential setting surrounded by single-family homes and boasts an average household income of approximately $122,496 within a one-mile radius. The property is zoned LAR1. The asking price is $3,850,000, representing a price per unit of $240,625 and a price per square foot of $321.26. This property is a fee simple ownership.