5026 Rosewood Avenue

Description

We are proud to present this newer construction 22-unit multifamily property located at 5026 Rosewood Ave, Los Angeles, CA 90004. Built in 2017, the property is 100% non-rent controlled. This 31,506 square foot property sits on a large 0.31-acre lot, and it boasts an excellent unit mix of (16) 2 bed units and (6) 3 bed units. The units are very large with the average unit being about 1,400 square feet.All units come with a full suite of new stainless-steel appliances, central HVAC system with NEST thermostat, a private balcony, and an in-unit washer & dryer. The very secured and gated property has a subterranean parking lot operating by an automatic gate with ample parking and bicycle storage, and the tenants also have convenient access to an elevator serving all four oors.At $362 per square foot, this offering is priced below replacement cost, and it offers the buyer an estimated 20% upside potential on current rental income. Hancock Park is a distinguished and afuent neighborhood located in central Los Angeles, celebrated for its picturesque tree-lined streets and historic charm. This prime location offers a serene residential atmosphere while maintaining convenient access to the vibrant cultural and culinary offerings of nearby Hollywood and Downtown Los Angeles. With the prestigious Wilshire Country Club and the Los Angeles Tennis Club within its boundaries, Hancock Park is a highly desirable area for upscale living. This new 22-unit apartment building represents a unique investment opportunity in one of the city's most sought-after communities, perfect for discerning residents seeking both luxury and accessibility in the heart of Los Angeles.

Listing information courtesy of: Filip Niculete, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of 09/20/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.