6408 Brynhurst Ave, Los Angeles, CA
Value-Add Opportunity With Four Existing Units and Development Potential
Property Currently Features Two Duplexes With All One-Bedroom Units, In-Unit Laundry Hookups, Four Single-Car Garages, Newer Roofs, and Two Units Have Been Remodeled
Potential to Develop Nine Units By-Right or Up to 17 Units Utilizing TOC Incentives (Buyer to Verify)
Proximate to the New Crenshaw/LAX Metro Line and Several New Development Projects
6408 Brynhurst Avenue
Los Angeles, CA
Property is in escrow
The Bogie Group of Marcus & Millichap is pleased to present to market 6408 Brynhurst Avenue, a four-unit apartment property in Los Angeles, California with development potential. The property is situated on a 7,581-square foot lot and currently features two 1938 construction duplexes with all one-bedroom units and a rear structure with four single-car garages. The units are separately metered for gas and electricity and have in-unit laundry hookups. The roofs of both duplexes have been replaced within the past few years, and two of the units have been recently remodeled.
Current rents are 40 percent below market, offering a new investor the opportunity to capture substantial upside. Additionally, a new investor may want to explore the property’s development potential: nine units may be developed by-right, and because the property is located within a transit-oriented community (TOC) zone, up to 17 units may be developed utilizing TOC incentives (Buyer to verify. See page nine of the offering memorandum for additional development potential information.)
Anticipation of the new Crenshaw/LAX Metro Line has inspired numerous new developments in the immediate area surrounding the subject property, including a new 12-unit 2021 construction just three doors down. 6408 Brynhurst is located within a half-mile of both the Hyde Park and Fair View Heights stations that will be served by the new Metro line.