$19,000,000

2056 2118 Century Boulevard, Los Angeles 90047

3

Beds

2

Baths

130,680

Lot Size

68

# Of Units

Listing Agent
Tyler Leeson - Marcus & Millichap RE Invest

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).

Facts & Features

MLS® # OC24146738
Price $19,000,000
Bedrooms 3
Bathrooms 2.00
Lot Size 130,680
Year Built 1948
Type Residential Income
Sub-Type Apartment
Status Active
# Of Units 68

Community Information

Address 2056 2118 Century Boulevard
Area 699 - Not Defined
City Los Angeles
County Los Angeles
Zip Code 90047

Amenities

Is Waterfront No
Has Pool No
Pool None

Interior

Has Basement No
Fireplace No
# of Stories 2
Stories Two

Exterior

Lot Description Street Level

Additional Information

Date Listed July 17th, 2024
Days on Market 114
Zoning LCR3YY
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentTyler Leeson
OfficeMarcus & Millichap RE Invest

Listing Map

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