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 Details
Price:
$19,000,000
MLS #:
OC24146738
Status:
Active
Baths:
0
Address:
2056 W Century Boulevard
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
699notdefined
City:
Los Angeles
Listed Date:
Jul 17, 2024
State:
CA
ZIP:
90047
Lot Size:
130,680 sqft / 3.00 acres (approx)
Year Built:
1948
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Schools
Interior
Exterior
Community Features
Curbs, Gutters, Sidewalks
Garage Spaces
0.00
Lot Features
Level with Street
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Association Fee
0.00
Map
Community
- Address2056 W Century Boulevard Los Angeles CA
- Area699 – Not Defined
- CityLos Angeles
- CountyLos Angeles
- Zip Code90047
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Courtesy of Marcus & Millichap RE Invest. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
2056 W Century Boulevard
Los Angeles, CA
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