5213 Meridian St
Multifamily | 5.33% CAP | 8 Units
Marketing description
CBRE is pleased to present 5213 Meridian Street, an 8-unit multifamily property situated in the heart of Highland Park, one of Northeast Los Angeles' most sought-after and rapidly evolving residential neighborhoods. The property offers investors a rare opportunity to acquire a well-located, income-producing asset with meaningful value-add upside in a supply-constrained submarket that has consistently outperformed the broader Los Angeles metro on occupancy and tenant demand.
Positioned on Meridian Street a block from the York Boulevard corridor, the property benefits from direct walkable access to Highland Park's nationally recognized dining, retail, and nightlife scene, as well as seamless connectivity to Downtown LA and Pasadena via the Metro A Line. The surrounding neighborhood continues to attract a growing base of young professionals, creatives, and long-term residents drawn to the area's authentic character, historic architecture, and urban amenity.
With in-place rents materially below current market levels, 5213 Meridian Street presents a clear path to enhanced income through natural turnover, without the execution risk of a capital-intensive repositioning strategy.
Investment highlights
- PRIME HIGHLAND PARK LOCATION - Steps from Figueroa Street and York Boulevard, Highland Park's most active dining and retail corridors, with direct Metro A Line access to Downtown LA and Pasadena.
- DIVERSE UNIT MIX - Studio through three-bedroom units serve a broad tenant pool, reducing vacancy risk and supporting stable occupancy across market cycles.
- SIGNIFICANT VALUE-ADD UPSIDE - In-place rents are materially below market across all eight units, offering a clear path to enhanced income through natural turnover.
- 1031 EXCHANGE OPPORTUNITY - An ideal replacement property for investors seeking durable income in a high-barrier, high-demand Northeast LA neighborhood.
- STABILIZED INCOME WITH UPSIDE - The property offers current cash flow at acquisition with a pro forma cap rate of 8.45%, appealing to both stabilized income buyers and value-add investors.
- SUPPLY-CONSTRAINED SUBMARKET - Highland Park's infill character and limited construction pipeline create meaningful barriers to new supply, supporting long-term rent growth for existing assets.
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