6137 Alcott Street
7 Units in Pico-Robertson | 63% Rental Upside, 1 Vacant Unit, Soft-Story Retrofitted & Nearly 100% C
Marketing description
The Glaser Group is pleased to present 6137 Alcott St, a 7-unit multifamily property located in the desirable Pico-Robertson submarket of West Los Angeles. Built in 1959, the property offers investors a well-maintained asset with a path to 63% rental upside, including one vacant 2BR/2BA unit.
The property features a unit mix of (4) 2BD/2BA, (2) 1BD/1BA, and (1) studio unit. Three units have been turned since 2021 including (1) vacant 2BR/2BA unit, while (4) legacy tenants remain in place below market, offering continued upside as those units eventually turn. Current gross scheduled income totals $12,162 per month, or $145,938 annually, with meaningful room for growth. Offered at an extremely attractive basis of $231,429/unit and $251.74/SF, this is one of the most compelling opportunities an investor will find in the area.
Ownership has completed numerous capital improvements in recent years. In 2024, wall heaters and associated venting were removed and replaced in units 1 and 4, with permits finaled through LADBS. Gas earthquake shut off valves were installed and finaled in 2019 along with the required soft-story seismic retrofit, with a Certificate of Compliance issued in April 2019. The building also passed both its SB-721 balcony inspection and SCEP inspection in January 2025. Per Seller, six of the seven units have been fully repiped with copper plumbing (just Unit #7 is missing copper vertical pipes). There was also a brand new silicone coating applied to the roof in 2023 with a 30-year warranty.
The property is being with one vacancy (Unit #4), with (4) long-term legacy tenants in place below market. Additional income is generated through coin-operated laundry (WASH, $60 per month) and a mineral rights contributing approximately $300 per year, adding supplemental cash flow beyond residential rents.
Ideally situated on a tree-lined street in Pico-Robertson, 6137 Alcott St is minutes from Beverly Hills, the Beverly Center, and Cedars-Sinai Medical Center, with easy access to the 10 Freeway and La Cienega Blvd. The location benefits from strong and consistent rental demand driven by proximity to major employment centers, retail, dining, and transportation corridors throughout West Los Angeles
Investment highlights
- 7-unit apartment in Pico Robertson built in 1959
- Mix consists of (4) 2BD/2BA, (2) 1BD/1BA, and (1) Studio
- (4) legacy tenants leased 63% below mark, plus (1) 2BR/2BA unit will be delivered vacant (Unit #4)
- Soft-story seismic retrofit completed in April 2019
- Additional income includes coin operated laundry room
- All upstairs units have balconies, passed SB-721
- Silicon coating applied to roof in ‘23 (30 year warranty)
- Parking can accommodate 7 vehicles with (5) single stalls in the rear and a tandem driveway in front
- 6/7 units have full copper plumbing, unit #7 is only missing vertical copper pipes
- Well-located on a tree lined street minutes from Beverly Hills, Century City, and Culver City
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