Description

Situated on a hillside view site (.213 acres/as) East of Virgil Avenue and North of Melrose Avenue in the community of East Hollywood, bordered by Silver Lake in Los Angeles, 3942 Marathon Street ("Marathon" or "Property") is a 100% leased, Mediterranean inspired multifamily property, consisting of six rental units and one non-confirming unit spread throughout two wooden and stucco structures, which were built in 1926.

The Property has greatly benefited from current ownership' s aggressive asset management and through a consistent commitment of capital expenditures, the Property has been significantly upgraded, resulting in the conversion of four below market units to market. The most recent unit renovation, was a 2 bd /1 ba in the front structure which was renting for $531 per month. Upon vacancy, the unit was thoroughly renovated and a lease was signed in August 2010 for $1350 per month. As a result of these renovations and successfully executed market rentals, further opportunity exists for a new owner/user/investor to convert the remaining two occupied below market units to market upon vacancy.

The Property also benefits from on-site parking.

The Property is located east of Virgil Avenue, West of Hyperion Avenue and North of Melrose on the border of East Hollywood and Silver Lake.