All in one place

Everything to run your Real Estate Business


Listing Agent: Han Chen CalDRE: 01749321 - Growth Investment Group Pasade, 626-224-2495
crmls logo
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

4121 Marmion Way,  Los Angeles CA, 90065

(Active)
$3,850,000
|
11,984 sqft
|
MLS# AR24123998

Skip Slideshow
Last Updated: 7/17/2024 5:27 PM
Description for 4121 Marmion Way Los Angeles, CA 90065
9.48% Proforma CAP Rate in an excellent area with 25% vacancy! 4121 Marmion Way, a prime 16-unit Value-Add apartment in the desirable Mount Washington neighborhood of Los Angeles. This well-maintained property is located right off Figueroa St and at the border of Highland Park and South Pasadena. It is surrounded by mature residential neighborhoods and within walking distance of many attractions in Mount Washington area (Lumis House, Southwest Museum, and Metro Gold Line Heritage Square Station). This property is in a mature area and surrounded by single family homes. It has an excellent demographics with $122,496 average household income within a-mile radiusThe property is a two-story garden style apartment. It offers excellent curb appeal and is very well maintained with a serene center courtyard. It was built in 1965, has a total of 11,984sqft building size, and situated on a large 17,441SF lot. The property has a new roof that was installed in 2021 and several front windows have been upgraded with dual pane windows. The foundation has been bolted and seismic retrofit of the property was completed in 2015. It offers an excellent unit mix of eight (8) large 2bedroom+1bathroom, and eight (8) large 1bedroom+1bathroom units. Four units are currently vacant and can be delivered vacant at close of escrow. The 2-bedroom units are large with excellent layout (estimated size are 925-1000SF buyer to verify), and the 1-bedroom units are spacious with functional layout (est. size 700-800SF buyer to verify). Each unit has a large living room, wall heater, windows A/C, and a full kitchen. The front facing units (4 units) have updated double pane windows. None of the units have been updated, which presents unique opportunities for new owners to do their value-add work and increase the rents significantly. The current rental income is significantly below market (est. about 59%). Each unit is individually metered for electricity and gas. The units are large and bright which makes them very attractive and easy to rent. There are 16 open parking spaces in the back (no soft story retrofit is required) with alley access to the parking lot. The property is serviced by a master water heater, and a shared laundry room (seller own machines).The property is located right off Figueroa St; in the Mount Washington neighborhood, and at the border of Highland Park and South Pasadena, providing an unparalleled access to superb amenities on Figueroa St.
Price
$3,850,000
Los Angeles
11,984 (approx)
AR24123998
Active
Description
9.48% Proforma CAP Rate in an excellent area with 25% vacancy! 4121 Marmion Way, a prime 16-unit Value-Add apartment in the desirable Mount Washington neighborhood of Los Angeles. This well-maintained property is located right off Figueroa St and at the border of Highland Park and South Pasadena. It is surrounded by mature residential neighborhoods and within walking distance of many attractions in Mount Washington area (Lumis House, Southwest Museum, and Metro Gold Line Heritage Square Station). This property is in a mature area and surrounded by single family homes. It has an excellent demographics with $122,496 average household income within a-mile radiusThe property is a two-story garden style apartment. It offers excellent curb appeal and is very well maintained with a serene center courtyard. It was built in 1965, has a total of 11,984sqft building size, and situated on a large 17,441SF lot. The property has a new roof that was installed in 2021 and several front windows have been upgraded with dual pane windows. The foundation has been bolted and seismic retrofit of the property was completed in 2015. It offers an excellent unit mix of eight (8) large 2bedroom+1bathroom, and eight (8) large 1bedroom+1bathroom units. Four units are currently vacant and can be delivered vacant at close of escrow. The 2-bedroom units are large with excellent layout (estimated size are 925-1000SF buyer to verify), and the 1-bedroom units are spacious with functional layout (est. size 700-800SF buyer to verify). Each unit has a large living room, wall heater, windows A/C, and a full kitchen. The front facing units (4 units) have updated double pane windows. None of the units have been updated, which presents unique opportunities for new owners to do their value-add work and increase the rents significantly. The current rental income is significantly below market (est. about 59%). Each unit is individually metered for electricity and gas. The units are large and bright which makes them very attractive and easy to rent. There are 16 open parking spaces in the back (no soft story retrofit is required) with alley access to the parking lot. The property is serviced by a master water heater, and a shared laundry room (seller own machines).The property is located right off Figueroa St; in the Mount Washington neighborhood, and at the border of Highland Park and South Pasadena, providing an unparalleled access to superb amenities on Figueroa St.
Listing Information
Property Type: Apartment, 2 Story
0.4 Acres Assessor 11,984 (approx)
1965 2
Public
Public Sewer
Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected
1 Total
Neighborhood
Room Information
Common Area
Interior Features
Disposal,Gas Range,Refrigerator,Dryer,Washer
Vinyl, Laminate, Wood
Window/Wall Unit
Other, Wall Furnace
2+ Common Walls
1
None
Exterior / Lot Features
16 Parking Spaces, 0 Covered Parking Spaces, Assigned,Driveway,Paved
Flat
None
None
LAR1
Repairs Cosmetic
Irregular Lot,Near Park,Near Public Transit
Driving Directions
east of Mt. Washington Dr, and north side of Marmion Way, exit Ave 43 from FWY 110
Financial Considerations
5465022016
Cash,Cash to New Loan
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90065 has a population of 3,956,168.

The median household income in Los Angeles, California 90065 is $75,188. The median household income for the surrounding county is $73,262 compared to the national median of $66,222. The median age of people living in Los Angeles 90065 is 38 years.

Data provided below are primarily sourced from Public Records data.

Nearby Recent Sales (Sourced from Public Records)
Street Address City Beds Baths Sold Price Sold Date
No information is available for recently sold properties within this search.
Price History
Date Event Price Source
6/17/2024 Active $3,850,000  USD  MLS info
Tax History (Sourced from Public Records)
year Property Taxes Change Tax Assessment Change
2023 $28,471   USD 4.72% $2,155,729   USD 2.00%
2022 $27,188   USD 1.47% $2,113,523   USD 2.00%
2021 $26,794   USD -0.89% $2,072,145   USD -
2020 $27,034   USD 3.91% $2,072,145   USD 1.19%
2019 $26,016   USD 1.34% $2,047,731   USD 2.00%
Listing Agent: Han Chen CalDRE: 01749321 - Growth Investment Group Pasade, 626-224-2495
crmls logo
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This content last refreshed on 7/17/2024 5:27 PM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
We'll help you find your dream home!
Contact Customer Service
(555) 555-5555