Extraordinary Opportunity to Purchase a 60 Unit Investment Property In Los Feliz, CA

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The Seymour Group at Keller Williams Studio City Presents the rare opportunity to purchase a 60-unit multifamily property in Los Feliz, CA. Built in 1972, 2031-2035 Dracena Drive, “Dracena Palms”, is a 66,768sqft apartment building located near trendy shopping, city life, and the best that Los Feliz has to offer. Listed for $22,000,000.

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The Seymour Group at Keller Williams Studio City Presents the rare opportunity to purchase a 60-unit multifamily property in Los Feliz, CA. Built in 1972, 2031-2035 Dracena Drive, “Dracena Palms”, is a 66,768sqft apartment building located near trendy shopping, city life, and the best that Los Feliz has to offer. Listed for $22,000,000.

The property resides on a 31,982 square foot lot and is comprised of (42) 1 Bedroom + 1 Bathroom units, (15) 2 Bedroom + 2 Bathroom units, and 3 Studio Units. Dracena Palms is in the highly desirable rental market of Los Feliz, known for its trendy eateries, outdoor activities, and cool location where tenants are willing to pay a premium to live in one of the best neighborhoods in all of Los Angeles.

Dracena Palms provides the opportunity to reposition and upgrade the apartment building to obtain market premium rents and capitalizing on significantly below market in-place rents. With a walk score of 86, this pocket of Los Feliz is a walker’s paradise. Leave your car parked and take a stroll onto Los Feliz Blvd to enjoy the buzz of the city with a multitude of dining, shopping, and people watching options available at every turn.

Property Details:

  • 2031-2035 Dracena Dr, Los Feliz, CA 90027
  • $22,000,000 Asking Price
  • 60 Units
  • 1,000 SF Average Per Unit
  • 72 Parking Spaces
  • Built in 1972
  • 66,768 Building SF | 31,982 Lot SF

For more information, offering memorandums, and all the details, visit DracenaPalms.com or contact:

The Seymour Group
Phil Seymour – President / David Weinberger - Executive Vice President
818.432.1632 | Phil@seymourgroup.net | 818.432.1612 – David@TheSeymourGroup.net

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