Marcus & Millichap is pleased to present 1455 S Wooster St, a 16-unit apartment building located in Pico-Robertson, one of the strongest rental sub-markets in Los Angeles. The subject property is a two-story building offering 13,313 of rentable SF and is situated on a 12,998 SF lot.
1455 Wooster has been owned and operated by current ownership for over 20 years providing buyers with an opportunity to increase rental income by renovating the interior units and exterior facade. The unit mix consists of two (2) singles, eleven (11) one bedrooms, one (1) two-bedroom, and two (2) two-bedroom town-home apartments, both of which include a den. All of the units are very spacious providing tenants with plenty of room. On-site amenities include a gated entry, an open courtyard, a laundry facility, and a total of 24 parking spaces, 8 singles, and 8 tandem.
Pico-Robertson is a high-density rental market adjacent to Beverly Hills, Century City, Beverlywood, Miracle Mile, Carthay Square, Mid-City, and West Hollywood. These surrounding areas are major employment centers for the demographic that resides in Pico-Robertson, making it a very commutable area for its residents. The property itself is walking distance to Pico Blvd, which hosts a diversity of restaurants and International Mediterranean supermarkets.
This asset provides an investor with a great opportunity to acquire a well-maintained apartment building in the heart of Pico-Robertson.
A+ Pico-Robertson Neighborhood – Wooster is located in one of the most desirable neighborhoods in Los Angeles, just within a block from Pico and Robertson Blvd, right outside Beverly Hills. With a Walkscore of 97, this area is considered a Walker’s Paradise.
Long-Term Ownership – The property has been owned and operated under the same ownership for over 20 years.
Value-Add – An investor has the ability to significantly increase rents through renovations to the interior units and exterior facades. Eight (8) units to be delivered vacant at the close of escrow.
Seismic Retrofit – Soft-story seismic retrofit work has been completed by Seller.
Great Unit Mix With Very Large Units – The unit mix consists of two (2) singles, eleven (11) one-bedrooms, one (1) two-bedroom, and two (2) two-bedroom town-home
apartments, both of which include a den. All the units are very spacious and provide natural lighting.
On-Site Amenities – On-site amenities include a laundry facility and a total of 24 parking spaces, 8 singles, and 8 tandems. The property also provides tenants with a gated entry and a beautiful courtyard.