928 S Record Ave

Marcus and Millichap is pleased to present a three (3) unit apartment building located in Los Angeles, California. The subject property is situated in a good East Los Angeles location, south of Whittier Boulevard and west of S Downey Road.
Formerly known as the Belvedere Gardens, the East Los Angeles submarket is an unincorporated area free from municipal corporate governance. It is a well-connected transportation hub with access to light rail service and the Los Angeles County Metropolitan Transportation Authority (Metro). There are five (5) public schools and three (3) private schools, as well as many landmarks such as the Commerce Center and the Montebello Country Club. The area is currently experiencing an increase in development as the county continues to push for supportive housing and other programs with over $149m in grants available as of July 2023. Recently, Meta Housing Corp has announced the completion of the La Paza Apartments, a new affordable housing complex at the intersection of Whittier Boulevard and Downey Avenue. The project features a three-story building with 42 apartments. Another project that is nearing completion is the “3+D”, a 78-unit apartment building that broke ground in late 2021 along the corner of 3rd Street and Dangler Avenue.
Built in 1956, this property consists of an ideal unit mix of two (2) two-bedroom / one-bathroom units, and one (1) three-bedroom / one-bathroom house. All of the units have been recently renovated with hardwood flooring, new countertops, appliances, and in-unit washer and dryer machines. The two-bedroom units also feature a spacious den. The property is also gated and secure. The property is equipped with three (3) on-site parking spaces including two (2) garage spaces that can potentially be converted into multiple ADU units. Tenants will love being within a few miles of many trendy restaurants, nightlife, and entertainment options such as Lupe’s Burritos, Regency Commerce, Pacific French Bakery, Nike Community Store, and Salazar Park.
Positioned in a good East Los Angeles Location, this offering presents an exceptional opportunity for an investor to capitalize on a triplex with incredible initial cash flow and qualifies for 30-year fixed residential financing.