Non-Rent Control Property – All 3BR THs 445 W 70th St

Marcus & Millichap is pleased to announce the opportunity to purchase 445 W 70th Street, a six-unit multifamily property in Los Angeles, CA that is not currently subject to any rent controls. Constructed in 2011, the property consists entirely of well-appointed three-bedroom townhomes, each above its own private two-car garage. Offered at an attractive 4.26% current CAP Rate, this building provides an investor with a recently-constructed, high-end asset that still generates a strong, stable cash flow.
Each spacious floorplan includes three-bedroom and two-and-a-half bathrooms within more than 1,500 square feet. Tenants are attracted to the in-unit washer/dryers, granite countertops, central air/heat, fireplaces, walk-in closets, and high ceilings. Every apartment includes its own private balcony, private patio, breakfast bars, and tile flooring in the kitchen and entryway. A private two-car garage is attached to each unit, offering direct entry to the apartment. Each unit features its own individual water heater, while the entire premises are guarded by a security camera system.
Situated on a large corner lot, the property has frontage on Figueroa Street, one of the largest thoroughfares within Los Angeles, which helps when advertising a vacancy. The LA Live entertainment complex and Staples Center are less than six miles from the building, while several restaurants and grocery stores are within immediate walking distance. Tenants enjoy convenient access to the 110 Freeway, with the Florence Avenue onramp just blocks away.