8843 Alcott St, Los Angeles, CA 90035

Description

Located in the heart of the highly coveted Pico-Robertson neighborhood, west of Robertson Boulevard and south of Pico Boulevard, 8843 Alcott Street presents a rare opportunity to acquire a fully occupied 10-unit multifamily asset in one of Los Angeles' most established and supply-constrained Westside rental markets. Offered at an attractive 5.6% in-place cap rate, the property combines immediate cash flow with meaningful upside in a location that consistently attracts high-income renters seeking walkability, convenience and proximity to Beverly Hills, Century City and the greater Westside.The property features an excellent mix of spacious one- and two-bedroom residences, with the majority of units already renovated to modern standards. These completed renovations provide a proven roadmap for future rental growth while allowing a new owner to focus capital on select remaining units and operational improvements rather than undertaking a wholesale renovation program. What truly separates 8843 Alcott is its location. Situated in one of Los Angeles' most walkable residential neighborhoods, residents have immediate access to an exceptional collection of restaurants, cafes, markets and neighborhood amenities. The property is just moments from Schwartz Bakery, The Milky Way, Natalie's Trattoria, Jeff's Gourmet and La Gondola, with the broader Pico Boulevard corridor providing an extensive mix of dining, shopping and daily conveniences.Beyond Pico-Robertson, residents enjoy quick access to Beverly Hills, Century City, Beverly Grove, West Hollywood and the Wilshire Corridor, placing some of Los Angeles' most prestigious employment centers, luxury retail destinations and entertainment amenities within minutes of the property. 8843 Alcott is positioned within a broader Westside corridor experiencing continued residential and mixed-use investment, adding new housing, retail, dining and services to the surrounding market.Pico Boulevard itself is seeing continued development activity. At 9700 W. Pico Boulevard, Los Angeles City Planning is reviewing a proposed mixed-use project consisting of 242 residential units and approximately 4,150 SF of commercial space.Additional residential development is moving forward farther west along Pico Boulevard. At 11021 W. Pico Boulevard, an approved project calls for an 8-story, 207-unit mixed-use building with approximately 2,410 SF of retail, adding new housing and neighborhood-serving commercial space to the broader Pico corridor. At 11601 W. Pico Boulevard, another approved project calls for a new 7-story multifamily building with 38 residential units over commercial space and a parking basement, further demonstrating the continued investment occurring along the Pico corridor. The investment story extends well beyond Pico-Robertson. The property sits within minutes of Beverly Hills and Century City, two of the most important employment, retail, dining and entertainment hubs on the Westside. Beverly Hills continues to accommodate significant new residential and mixed-use development. Current projects include 8300 Wilshire Boulevard, a proposed 34-story mixed-use development with 211 residential units, including 32 affordable units, as well as 9220 N. Santa Monica Boulevard, a proposed project with 217 residential units and approximately 2,585 SF of ground-floor restaurant space. The City of Beverly Hills has also established a Mixed Use Overlay Zone allowing residential and commercial development in designated portions of major commercial corridors, including Wilshire Boulevard, Robertson Boulevard, La Cienega Boulevard, Olympic Boulevard, Santa Monica Boulevard and South Beverly Drive. The City is currently studying potential changes intended to further encourage mixed-use and adaptive-reuse development.Century City continues to evolve as one of Los Angeles' premier live-work-play districts combining major corporate employment, luxury retail, dining, entertainment and high-end residential development.