347-349 N Genesee Ave

Offering Highlights

  • Offer Price:

    $2,450,000

  • Price/SF:

    $412.81

  • Price/Unit:

    $612,500

  • Units:

    4

  • Cap Rate:

    5.34%

  • GRM:

    15.41

  • Status:

    Active

Prime Location:

Incredibly located steps away from Beverly Blvd and just a short walk to The Grove, residents enjoy convenient access to an array of daily errands, retail stores, restaurants, and entertainment venues. From iconic landmarks such as Farmers Market and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental rates.

Strong Going-In CAP Rate:

The property boasts a very strong going-in CAP rate of 5.34%, which is quite compelling given this is a 4-unit building. Compared to similar properties on the market, this property stands out above the rest.

Walker’s Paradise:

With a stellar Walk Score of 95, this property caters to the modern lifestyle, where convenience reigns supreme. Tenants revel in the freedom to stroll to nearby attractions, fostering a sense of community and reducing reliance on transportation. As an investor, this translates to higher tenant retention rates and enhanced property desirability.

Desirable Demographics:

The Fairfax District boasts a robust average household income of nearly 126K within 1 mile of the subject property, reflecting the area’s affluent demographic and strong purchasing power. This economic stability contributes to a favorable investment climate and ensures continued demand for quality rental accommodations.

Opportunity Overview:

347-349 Genesee offers a compelling investment opportunity with strong fundamentals, located in the heart of the Fairfax District. This prime location boasts exceptional walkability and an impressive average household income of nearly $126K within a one-mile radius, reflecting the area’s affluent demographic and strong purchasing power. This economic stability creates a favorable investment climate and ensures ongoing demand for quality rental accommodations.

Exclusively listed by:

Sam Liberow
Senior Managing Director of Investment
Direct: 818-212-2795
Cell: 718-406-3128
SLIBEROW@MARCUSMILLICHAP.COM

CA: 01933858

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