2056 Century Boulevard, Los Angeles, CA 90047
  • MLS#: OC24146738 ( Apartment )
  • Street Address: 2056 Century Boulevard
  • Viewed: 2
  • Price: $19,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1948
  • Bldg sqft: 0
  • Days On Market: 121
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90047
  • Provided by: Marcus & Millichap RE Invest
  • Contact: Tyler Tyler
  • California Regional MLS IDX
  • DMCA Notice
  • 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 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 propertys 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 propertys 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).
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Features
Additional Parcels Description
  1. 6058-001-024; 6058-001-025
Association Fee
  1. 0.00
Building Area Total
  1. 61356.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Country
  1. US
Days On Market
  1. 81
Electric Expense
  1. 12313.00
Entry Location
  1. First level
Fuel Expense
  1. 12313.00
Garage Spaces
  1. 0.00
Insurance Expense
  1. 38638.00
Laundry Features
  1. Community
Levels
  1. Two
Lot Features
  1. Level with Street
Netoperatingincome
  1. 910096.00
Newtaxesexpense
  1. 225711.00
Number Of Separate Electric Meters
  1. 68
Number Of Separate Gas Meters
  1. 68
Otherexpense
  1. 153460.00
Otherexpensedescription
  1. Misc
Otherincome1
  1. 45300.00
Otherincomedescription
  1. Misc
Parcel Number
  1. 6058001023
Pool Features
  1. None
Postalcodeplus4
  1. 4039
Professionalmanagementexpense
  1. 43644.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 419128313:CRM
Totalexpenses
  1. 544710.00
Trash Expense
  1. 12316.00
Vacancyallowance
  1. 58729
Water Sewer Expense
  1. 12313.00
Water Source
  1. Public
Year Built
  1. 1948
Year Built Source
  1. Assessor
Zoning
  1. LCR3YY