prime pico union multifamily portfolio sale...daytime visitors and 31.1 million staying over at...
TRANSCRIPT
INVESTMENT HIGHLIGHTS:PORTFOLIO PROVIDES CASHFLOW AND UPSIDE: The 2 property portfolio is recently improved with 8 units of 12 recently bought out, rehabbed and leased to market rents. With 2 more units now ready to be bought out + the final remaining 2 units, (w/ 75% under market rents) this mostly turnkey site has solid remaining upside after the initial above market closing.
OPPORTUNITY ZONE INVESTMENT: The site lies in one of LA’s newer and highly sought after “Opportunity Zones” offering potential superior tax advantages with a strategic exit at the appropriate time window.
STRONG MULTIFAMILY DEMAND: As of 2Q18 the submarket is averaging 3.2% vacancy, 3.6% rent growth and positive net absorption. Huge amount of young professionals moving in to DTLA adjacent area.
EXCELLENT LOCATION: The Property is located along popular Toberman adjacent to parks, schools, shops and eateries with an excellent walkable score of 90 and a short drive puts you in the heart of DTLA.
HUGE GROWTH MARKET: Los Angeles visitation hit a record high in 2016, with 47.3 million daytime visitors and 31.1 million staying over at least one night (up 2.8% from 2015). Los Angeles is the first US city to receive more than a million visitors from China. Pico and Union presently has a limited number of available rental as a dense, burgeoning rental market.
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SITE AERIAL
1335 Valencia Street
1336 Toberman Street
DWG Capital Group, as exclusive advisor, is pleased to present for sale the Exceptional ADD VALUE MULTIFAMILY 2 site portfolio investment opportunity located at 1336 Toberman Street and 1335 Valencia Street located in the Pico Union neighborhood.
The site is well-located in booming Pico Union just south of Koreatown and east of Harvard Heights and excellent DTLA adjacent growth submarket. It sits along a popular and strong rental market corridor with positive changing demographics of young professionals pouring into the area. The site is an ideal target for an experienced investor looking to establish and/or expand their strategic interest in one of the hot DTLA Pico Union submarket in Los Angeles. Please contact DWG Capital Group for an Offering Memorandum and further information.
JUDD DUNNINGPRESIDENT | [email protected]
NICK [email protected]
ANTHONY [email protected]
INVESTMENTS SALES. CAPITAL MARKETS. DONE.
P E R D U E D E A N G E L I S G I G O T I K O V W H I T E VA U G H N M I T C H E L L S C O T T S P I L S B U R Y W H I T N E R
RETAIL | MULTIFAMILY | OFFICE | DEVELOPMENT | JOINT VENTURES
SUPERIOR 5% +/- CAP IN PLACE W/ 6.5% PROFORMA UPSIDE!
PRIME PICO UNION MULTIFAMILY PORTFOLIO SALEHIGH GROWTH DOWNTOWN DTLA ADJACENT RENTAL LOCATION2 PROPERTY (OPPORTUNITY ZONE) PORTFOLIO SALE | 12 UNITS (1 NC UNIT)
PRICE: $3,000,000
1336 TOBERMAN STREET2 Back to Back Lots w/ Additional Further Future Long Term Development Potential
1335 VALENCIA STREET83% of units successfully turned, remodeled and to be deliver leased by closing! Additional upside, tight rental market, good construction with parking!
Excellent Near Turn Key 1031 Asset!