The Marc is a 28-unit apartment building located at 730 N. Mariposa Avenue in the highly desirable East Hollywood neighborhood of Los Angeles. Built in 1963, the property offers renters a high demand unit mix of 21 One Bedroom/One Bath and 7 Two Bedroom/One Bath units across +/-20,358 square feet of improvements on +/- 18,900 square feet of land. This thoughtfully maintained property features 7 extensively renovated units featuring new hardwood floors, kitchen cabinets, countertops, stainless steel appliances, designer tiles, fixtures and lighting. The bathrooms have been updated with modern vanities and tiles, bathtubs, and hardware. In addition, the units have been updated with new windows and wall air-conditioning units. The exterior of the property has been updated with new paint, a Zen courtyard with seating and planters, unique modern entryway gates, and an oasis style pool. New ownership has the opportunity to capture additional upside in rents through comprehensive renovation of the remaining unit interiors. All the heavy lifting of the exterior renovations has been completed allowing a buyer to focus solely on unit interiors as they turn. The Marc is subject to the earthquake retrofit ordinance requiring retrofitting of the soft-story parking. Plans have been approved and are RTI, buyer shall be responsible to complete work.
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