Property Detail

Description

We are pleased to present 456 S. Cochran Ave, a rare chance to acquire a 32-unit multifamily property in Los Angeles' coveted Miracle Mile, a very charming asset with significant value-add upside. This 21,320-square-foot building, constructed in 1920, features 24 studios and 8 one-bedroom/one bath units. Located in the vibrant Miracle Mile neighborhood, the property benefits from proximity to cultural, retail, and transit hubs, ensuring low vacancies and strong tenant demand from professionals and creatives. This offering is well-positioned for Buyers seeking a high-potential asset in a supply-constrained submarket with robust fundamentals. Premier Location Situated in Miracle Mile, with a Walk Score of ~90, offering proximity to a myriad of dining, retail, and entertainment destinations. The Grove (1 mile),West Hollywood (2.5 miles), and transit options like the Metro E Line (La Brea Station, opening 2025).Value-Add Potential Current Rents ~18% Below Market. Attractive Pricing Asking Price of $6,225,000 ($194,531/unit), 9.98 GIM, 5.76% CAP, $291.98 P/SF.