2056-2118 West Century Boulevard

Los Angeles, CA 90047

$19,000,000
Price
3
Beds
68
Baths
61,356 Sq. Ft.
$310 / Sq. Ft.
61,356
Sq. Ft.
$310
per Sq. Ft.

Description

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...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).
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

Property Details for 2056-2118 West Century Boulevard

Parking Spaces Total
0
Private Pool
No
Total Units
68.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
61356
Assessor Parcel Number
6058-001-023
Property Attached YN
false
LISTING UPDATED: 09/27/2024 07:06 AM

Property Details for 2056-2118 West Century Boulevard

StatusActive
MLS #OC24146738
Days on Market92
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1948
CountyLos Angeles County

Building Information for 2056-2118 West Century Boulevard

Building/Complex2056-2118 W Century BlvdFloor-Stories2Residences-Pet Policy-Year Built1948Building Size-

Property Information for 2056-2118 West Century Boulevard

Income / Expense / Tax Details
Income Details
  • Gross Income: $1,513,536
  • Gross Scheduled Income: $1,468,236
  • Vacancy Allowance: 58729
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $1,409,507
  • Net Operating Income: $910,096
  • Other Income Description: Misc
  • Other Income 1: $45,300
  • Gross Multiplier: 12.55
  • Cap Rate: 4.79
Expense Details
  • Operating Expense: $544,710
  • Operating Expense Percent: 37.40%
  • New Taxes Expense: $225,711
  • Fuel Expense: $12,313
  • Electric Expense: $12,313
  • Insurance Expense: $38,638
  • Maintenance Expense: $34,000
  • Professional Management Expense: $43,644
  • Other Expense: $153,460
  • Other Expense Description: Misc
  • Trash Expense: $12,316
  • Water Sewer Expense: $12,313
  • Total Expenses: $544,710
Tax / Assessment Info
  • Tax Tract Number: 13545
  • Tax Census Tract: 6004.00
  • Tax Lot: 156
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: First level
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 6058-001-024; 6058-001-025
  • Lot Features: Level with Street
  • Number Of Units: 68
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 28
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $45,648
  • Unit Type Total Rent: $45,648
  • Unit Type Pro Forma: 60200
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 40
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $76,705
  • Unit Type Total Rent: $76,705
  • Unit Type Pro Forma: 110000
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 9
  • Number Of Separate Electric Meters: 68
  • Number Of Separate Gas Meters: 68
  • Number Of Separate Water Meters: 1

Property History for 2056-2118 West Century Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 2056-2118 West Century Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Manhattan Place Elementary School
PublicK to 5

Animo Charter Middle No. 3
Charter6 to 8

George Washington Preparatory High School
Public9 to 12

Teach Tech Charter High
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2056-2118 West Century Boulevard is a multi-family home for sale in Los Angeles, CA 90047. This property was listed for sale on July 17, 2024 by Marcus & Millichap RE Invest, it's currently listed at $19,000,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Manhattan Place Elementary School, Animo Charter Middle No. 3 and George Washington Preparatory High School. 2056-2118 West Century Boulevard is a 3-bed, 68-bath, 61,356 sqft multi-family home built in 1948.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.