5800 Marmion Way Los Angeles, CA 90042

Property Details for 5800 Marmion Way

Year built

1987

Property size

42,272 SF

Property type

Apartment buildings

Description

This exceptional 60-unit apartment building, located at 5800 Marmion Way in Los Angeles's desirable Highland Park neighborhood, presents a compelling investment opportunity. The property, built in 1987 and extensively renovated in 2017, boasts a total of 42,272 square feet on a 31,539 square foot lot. The building features a mix of studio, one-bedroom, and two-bedroom units, averaging 705 square feet each. Upgrades include new plumbing, electrical systems, windows, roof, and stucco. Interior renovations encompass smooth wall finishes, new cabinetry, flooring, and baseboards, replacing popcorn ceilings. Units offer modern amenities such as in-unit washer/dryers, fully equipped kitchens with new appliances, hardwood-style flooring, central air conditioning, walk-in closets, and private patios. Community amenities are equally impressive, including on-site management, gated/covered garage parking, laundry facilities, a mailroom, Amazon storage lockers, a common workspace, and EV charging stations. The property's strategic location adjacent to the Metro Gold Line provides easy access to Downtown Los Angeles, South Pasadena, Pasadena, and the San Gabriel Valley. The asking price is $28,000,000, representing a price per unit of $466,666.67 and a price per square foot of $662.38. The property is zoned LAC4. Assumable financing is available with a fixed interest rate of 2.79%. This is a rare opportunity to acquire a high-quality, well-maintained multifamily property in a thriving Los Angeles neighborhood.