11017 Louise Ave
Lynwood, CA 90262
- Multi-family building, 14 beds 7 baths, 17,520 sf, 32,417 sf lot
- Unit #1: 5 beds, 2 baths, $1700/moUnit #2: 4 beds, 2 baths, $1575/moUnit #3: 3 beds, 2 baths, $1400/moUnit #4: 2 beds, 1 bath, $1048/mo
Situated in the city of Lynwood, the Louise Apartments presents an investor the opportunity to own a larger non-rent control asset in a high rental demand area, with significant renovations, stable tenancy, and an excellent unit mix. The 2 story, concrete block building was moved onto its current lot in 1985 (buyer to verify). The property boasts an excellent unit mix of one 5 bed 2 bath unit, two 4 bed 2 baths, two 3 bed 2 baths, and fourteen 2 bed one bath units. 16 out of the 19 units' kitchens were renovated in the last few years with new cabinets, tile, vents, and hoods. Tenants enjoy 2 parking spaces per unit on the 32, 413 square foot lot. Originally the building had 25 units and a senior housing covenant with the city of Lynwood. The building was legally converted to 19 units and released of any senior housing requirements, with the exception of providing affordable income housing to 6 of the units. It is separately metered for electricity.
Listed by Darin Spillman, Hudson Commercial Partners, Inc.CLAW #10469543APN: #6194006013
01/03/2011 Off Market$2,450,0007 years ago