Description
16 Fleet Street is a well positioned 10-unit apartment building situated on the highly sought-after Peninsula of Marina Del Rey, just one lot from the sand.
The property boasts a mix of (4) 2-bed/2-bath units, (4) 1-bed units, and (2) Bachelor units. (6) Units feature private balconies/patios. Tenants enjoy ample parking, on-site laundry and a bike storage room, as well as a large private yard facing a walk-street. Great proximity to the Marina and Venice Pier areas provides easy access to a range of retail and restaurant establishments.
The building offers 8,040 RSF of living space priced at $621/SF and $499,999 per unit, with a 17.5 GRM and 3.74% CAP (Proforma 11.5 GRM and 6.43% CAP) presenting immediate upside potential.
With its premier location, sizeable living space, and attractive pricing, 16 Fleet Street is an excellent and rare investment opportunity for any Los Angeles CRE Investor.
Location
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Listing Agent: Woody Stahl
Listing Office: Lyon Stahl Investment Real Est
Attribution contact: broker@lyonstahl.com
