Multi-family building, 8 beds 3 baths, 32,616 sf, 11,115 sf lot
Unit #1: 2 beds, 1 bath, $1083/mo
Unit #2: 1 bed, 1 bath, $804/mo
Unit #3: Studio, 1 bath, $706/mo
Sold together with 807 S Westlake Ave. Los Angeles CA 90057 Both buildings are sold for $6.5Million. Two side-by-side buildings totaling 85 units. Great location! Squeezed between New Downtown LA and Korea Town. This is one of the most dense zip codes. Almost 60,000 people per square mile. The buildings yearn for good management and a little TLC. They need paint, floor refinish, some electrical upgrades and to separate the central gas meter into individual meters.30% to 40% upside in rents. Currently almost a 6% CAP... double-digit CAP after you get it stabilized... all in an area that will soon be absorbed by the New Downtown LA Expansion! Opportunity for seller financing as well!
- Built 1924
- Units: 48
- Disclosures: no property assesmts
- Rent control
Listed by Ronald Escobar, Century 21 SelectCLAW #13664951APN: #5141020009
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