4601 Coliseum Street

About This Property

Pleased to present 4601 Coliseum Street (the "Property"), an 18-unit multifamily community in the Baldwin Village submarket of Los Angeles.Built in 1957 and known as The Villa, the wood-frame walk-up occupies a 0.34-acre corner lot at Coliseum Street and Santa Rosalia Drive with an on-site pool and LAR3 zoning. The 15,686-square-foot building offers a diversified mix of four studios, ten one-bedrooms, one two-bedroom / one-bath and three two-bedroom / two-bath residences averaging 743 square feet a wide rent-band spread that broadens the tenant pool and cushions demand across cycles. Importantly, the value-add strategy has already been partially demonstrated at the Property. Six of the 18 units have previously been renovated, providing a proven renovation template while leaving additional units available for future interior modernization and rent growth. The Property also currently contains three vacant units, providing an incoming investor with the opportunity to immediately renovate and lease available units at market rents and begin capturing additional income from the outset of ownership. The 4601 Villa is strategically positioned within a Baldwin Hills/Baldwin Village submarket experiencing a significant wave of new development, redevelopment and infrastructure investment. The surrounding development pipeline includes approximately 1,900+ approved or under-construction residential units and more than 1.0 million square feet of planned or recently delivered retail, office and studio space. Among the most significant nearby projects is the $425 million, Costco-anchored mixed-use development at 5035 Coliseum Street, located approximately 0.7 miles from the Property, which is planned to include a 185,000-square-foot Costco and 800 apartment units. These investments have the potential to further enhance the neighborhood's retail amenities, employment base and long-term desirability for renters.

Neighborhood

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Listing courtesy of Marcus & Millichap

Listing data from CRMLS. Deemed reliable but not guaranteed.