16 Fleet Street is a well positioned 10-unit apartment building situated on the highly sought-after Peninsula of Marina Del Rey, just one lot from the sand.
The property boasts a mix of (4) 2-bed/2-bath units, (4) 1-bed units, and (2) Bachelor units. (6) Units feature private balconies/patios. Tenants enjoy ample parking, on-site laundry and a bike storage room, as well as a large private yard facing a walk-street. Great proximity to the Marina and Venice Pier areas provides easy access to a range of retail and restaurant establishments.
The building offers 8,040 RSF of living space priced at $621/SF and $499,999 per unit, with a 17.5 GRM and 3.74% CAP (Proforma 11.5 GRM and 6.43% CAP) presenting immediate upside potential.
With its premier location, sizeable living space, and attractive pricing, 16 Fleet Street is an excellent and rare investment opportunity for any Los Angeles CRE Investor.