Virginia

10-Unit Community in Los Angeles

Hollywood Submarket

Home to the entertainment industry, this is a densely populated and economically diverse area nearby several major employers. 

Coffee Bean

Off-Market

This building was purchased at an exceptionally low cost, with strong metrics.

Coffee Bean

UNit Mix

The unit mix on these two properties is ideal, with primarily one-bedroom units, perfect for the tenant demographic.

Coffee Bean

Tenant Demographic

The tenant profile is young professionals working downtown in the tech and entertainment industries, and blue collar professions. 

5841 Virginia Ave.

This 10-unit multifamily property was built in 1956, and features studio and one-bedroom units, on-site parking, and on-site laundry.

 

Total Units

Buildings

  • Occupancy at takeover 100% 100%
  • Value-Add Rent Growth 25% 25%
  • Average Annual Sub Market Rent Growth 5% 5%
  • Average Sub Market Occupancy 96.3% 96.3%

The Story

Virginia was purchased early in 2017. What really made this deal interesting was the exceptionally low-cost, and strong metrics, we were able to purchase at for the area. 

Since our purchase, we’ve completed multiple projects, including an exterior and interior renovations. 

We expect to exit this project in 5-7 years, with an equity multiple greater than 2.0x and an average annual return of +15%.

 

Register to Access Deals

Enter your information below for access to our exclusive investor portal and to receive updates on any upcoming deals.

Thank you, we'll be contacting you shortly!

Pin It on Pinterest

Share This

Share This

Share this post with your friends!