2056 2118 W Century Boulevard, Los Angeles, CA 90047 (MLS # OC24146738)
Century Group Apartments is a 68-unit multifamily investment property located in Los Angeles, CA. Century Group Apartments benefits from its close proximity to several key Los Angeles developments and economic hubs. The property is just over 1 mile from the recently completed SoFi Stadium, a 70,240 seat sports and entertainment center that acts as a cultural and economic hub for the city. Additionally, Century Group Apartments is within 1.50 miles of Intuit Dome, a 17,700+ seat indoor arena that recently opened in August of 2024. Furthermore, the property is just over 3.50 miles from Los Angeles International Airport, the largest international airport on the west coast and the 8th busiest airport in the world in 2023 (according to Airports Council International rankings). Finally, residents benefit from the property’s close proximity to an abundance of major retail centers located on Century Boulevard, with major retailers including Target, Costco, Aldi, Home Depot, and more. Situated on 3 adjacent parcels measuring a combined 3 acres, Century Group Apartments offers an attractive mix of one and two-bedroom floor plans. Current ownership has invested significant capital into upkeep and improvements at the property including fresh exterior paint, building and carport roofs, porticos, light fixtures, mailboxes, asphalt, tankless water heaters in laundry rooms, and more. Residents benefit from the property’s desirable amenities including gated pedestrian access, spacious professionally landscaped common areas, ample covered and surface parking, and three on-site laundry facilities. With an abundance of major developments in close proximity, strong rental demographics, and low in-place rents, Century Group Apartments represents a unique value-add opportunity. Through a comprehensive unit renovation plan, new ownership could achieve significant rental premiums on renovated units, substantially increasing rental income. Additionally, Century Group Apartments’ spacious parcels provide unique opportunities for new ownership to increase total unit count and rental income through the development of accessory dwelling units (ADUs).
Property Type(s):
Residential Income
|
Last Updated
|
9/26/2024
|
Year Built
|
1948
|
|
Community
|
Not Defined
|
County
|
Los Angeles
|
Price History
|
Prior to Sep 24, '24
|
$23,000,000 |
| Sep 24, '24 - Today |
$19,000,000 |
Additional Details
| AREA |
Not Defined |
| HOA DUES |
0 |
| LOT |
3 acre(s) |
| LOT DESCRIPTION |
Street Level |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
| ZONING |
LCR3YY |
Location
Listed with Marcus & Millichap RE Invest
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/26/24 2:22 PM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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