Description
Don't miss this rare and unique opportunity to own a highly valuable income property in a prime location! This well maintained 18 unit apartment complex with a resident manager is a strong investment with a gross income $36,611, boast an exceptional GRM 14.5, outstanding CAP rate of 4.9% and tremendous upside potential. The property is situated in a highly desired rental market strong investor and tenant demand. This three-story apartment complex, reminiscent of a condominium, was built in 1991 and has been impeccably managed and maintained ever since. The total square footage of the improvements is an impressive 21,789, sitting on a sizable 13,050 square foot lot, zoned LA R4-1 & TOC Tier 3, presenting additional development possibilities. The building's charming three-story, features an airy courtyard that provides access to all units, including an elevator from the parking lot. Comprising of 17 units with 2Beds and 2Baths, along with one unit featuring 2Beds and 1Bath. Each of the tastefully upgraded 2Beds units spans approx. 1,100 sf, offering a spacious living room, separate rooms, dining area, and central AC(16units). The apartments also boast ample closet space. The upgrade include separate water heaters, well- appointed kitchens with vent out hoods, dishwasher, stoves, beautiful countertops, cabinetry, and luxurious bathtubs and vanities. The plumbing has been installed to copper, and features CCTV surveillance. The on-site laundry room generates additional income. Additionally, each unit has separate gas and electric meters. Security are prioritized with a gated and secure parking garage offering 10 side-by-side parking spots and 22 tandem spaces(total 32 spaces). Convenient access to the FWY 110 and 10, situated just west of Downtown LA, easy access to major markets, restaurants, banks, healthcare facilities, and other business. Don't delay - seize the chance to make this one-of-a-kind investment property your own!
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36BEDS
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0.3ACRES
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0BATHS
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01/2 BATHS
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21,789SQFT
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$291$/SQFT
School Ratings & Info
Description
Don't miss this rare and unique opportunity to own a highly valuable income property in a prime location! This well maintained 18 unit apartment complex with a resident manager is a strong investment with a gross income $36,611, boast an exceptional GRM 14.5, outstanding CAP rate of 4.9% and tremendous upside potential. The property is situated in a highly desired rental market strong investor and tenant demand. This three-story apartment complex, reminiscent of a condominium, was built in 1991 and has been impeccably managed and maintained ever since. The total square footage of the improvements is an impressive 21,789, sitting on a sizable 13,050 square foot lot, zoned LA R4-1 & TOC Tier 3, presenting additional development possibilities. The building's charming three-story, features an airy courtyard that provides access to all units, including an elevator from the parking lot. Comprising of 17 units with 2Beds and 2Baths, along with one unit featuring 2Beds and 1Bath. Each of the tastefully upgraded 2Beds units spans approx. 1,100 sf, offering a spacious living room, separate rooms, dining area, and central AC(16units). The apartments also boast ample closet space. The upgrade include separate water heaters, well- appointed kitchens with vent out hoods, dishwasher, stoves, beautiful countertops, cabinetry, and luxurious bathtubs and vanities. The plumbing has been installed to copper, and features CCTV surveillance. The on-site laundry room generates additional income. Additionally, each unit has separate gas and electric meters. Security are prioritized with a gated and secure parking garage offering 10 side-by-side parking spots and 22 tandem spaces(total 32 spaces). Convenient access to the FWY 110 and 10, situated just west of Downtown LA, easy access to major markets, restaurants, banks, healthcare facilities, and other business. Don't delay - seize the chance to make this one-of-a-kind investment property your own!
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-27T07:37:36.257. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.