Grand View Towers
Multifamily | 5.27% CAP | 30 Units
Marketing description
Grand View represents a compelling opportunity to acquire a Central Los Angeles multifamily asset built in 2016 and comprised of 97% two- and three-bedroom units, with an average size of 1,021 square feet. Offered well below replacement cost, the property provides investors with an attractive basis in a high-barrier infill location while avoiding the cost escalation, entitlement uncertainty, construction risk, and lease-up exposure associated with developing comparable new apartment product in Los Angeles.
The property benefits from strong transit-oriented fundamentals, with walkable access to the Westlake/MacArthur Park Metro Station, Metro B and D subway service, and multiple bus routes. This connectivity provides residents with convenient access to Downtown Los Angeles, Koreatown, Hollywood, USC, the Wilshire Corridor, and other major employment and cultural destinations.
Investment highlights
- OFFERED BELOW REPLACEMENT COST - The property may be positioned as a compelling buy-versus-build opportunity in a high-barrier urban infill location. Acquiring existing apartment product below replacement cost provides basis protection and avoids the uncertainty of new construction in Los Angeles.
- TRANSIT-ORIENTED CENTRAL LOS ANGELES LOCATION - The property is within walking distance of the Westlake/MacArthur Park Metro Station, served by the Metro B and D subway lines, with bus connections including Metro Local 2, 18, 20, 51, 93, Metro Rapid 720, and LADOT DASH Pico Union/Echo Park. This level of transit access supports renter demand from residents seeking convenient access to Downtown Los Angeles, Koreatown, Hollywood, USC, and the broader regional employment base.
- STRONG NEARBY EMPLOYMENT BASE - This asset is proximate to major government, education, healthcare, transit, legal, and professional-service employment anchors, including Downtown Los Angeles, Civic Center, LAUSD headquarters, USC, Kaiser Permanente Los Angeles Medical Center, and the regional Metro/Union Station employment node.
- 2028 OLYMPIC ECONOMIC TAILWINDS - The property is well positioned to benefit from the broader Central Los Angeles momentum expected around the 2028 Olympic and Paralympic Games. LA28's venue plan includes major nearby venue clusters in Downtown Los Angeles and Exposition Park, including DTLA Arena, the Los Angeles Convention Center, Dodger Stadium, Peacock Theater, the Los Angeles Memorial Coliseum, Exposition Park Stadium, and Galen Center.
- PUBLIC AND PRIVATE INVESTMENT CATALYSTS - The surrounding area is benefiting from significant investment, including the Centro Westlake transit-oriented development, the Metro D Line Extension, the Los Angeles Convention Center expansion, and MacArthur Park stormwater/public-realm improvements.
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