The Collection on San Marino Street represents a rare opportunity to acquire two adjacent multifamily investment portfolios totaling 5 buildings and 115 units in central Los Angeles, MacArthur Park. The portfolios may be purchased together or separately.
• Portfolio 1: 2737, 43 & 49 San Marino St. is comprised of 3 adjacent buildings totaling 85 units.
• Portfolio 2: 2715 & 2723 San Marino St. is comprised of 2 adjacent buildings totaling 30 units.
Portfolio 1 and Portfolio 2 have a triplex between them that is currently NOT up for sale.
This investment opportunity presents an ideal income property for an investor looking to acquire a value-add opportunity with significant rental upside potential.
This description is for Portfolio 1. The apartment buildings stand on (3) adjacent lots with separate APN’s and total 85 units. The buildings were constructed in 1924, 1926 and 1928 totaling 45,099± building square feet on a combined lot size of 20,250± square feet. Zoning is currently LAR4, and the buildings are located in a Transit Oriented Community (TOC), Tier 2 which may allow for a larger redevelopment. Buyer to verify.
These extremely spacious units at San Marino average 530± square feet and are comprised of:
• (71) Studio + 1 Bath
• (10) 1 Bedroom + 1 Bath
• (4) 1 Bedroom + 1.5 Bath units
Aesthetically, the property grounds and building have been well maintained.
+ Roofs are well-kept, the vents and pipes are inspected and sealed regularly.
+ The electric in buildings 2737 & 2743 were completely rewired and have separate meters.
+ In building 2749 a new water heater and a significant portion of gas line was replaced in 2021.
+ Buildings 2737 & 2749 have been updated with copper plumbing as needed and building 2743 was completely re-piped in 2017.
+ All buildings are equipped with security monitoring systems.
In addition, 55 of the 85 units have been renovated with new kitchens, bathrooms and laminate plank wood flooring.
• 3 building, 85-unit portfolio with the opportunity to purchase a neighboring 2 building, 30 unit portfolio!
• Unit comprised of: (71) Studio + 1 Bath, (10) 1 Bedroom + 1 Bath and (4) 1 Bedroom + 1.5 Bath
• Select buildings have undergone capital improvements including but not limited to, new plumbing, electrical, upgrading system and 55 units out of 85 have been renovated.
• Value-Add opportunity with immediate upside in rents.
• Located in a Tier 2 Transit Oriented Community (TOC)