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Listed by Han Chen • Growth Investment Group Pasade
$2,300,000
Est. payment /mo
9,240 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,240 sqft
Price per Sqft $248
MLS Listing ID CRAR25041703
HOA Y/N No
Year Built 1927
Lot Size 6,000 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
A 16-unit bread-and-butter Value-Add Opportunity in Rampart Village neighborhood. The property has been with the same ownership for more than 25 years. It is located on a side residential street and centrally situated only several blocks south of Silver Lake area and Silver Lake Blvd. Bordering Silver Lake, Echo Park, and Koreatown area, this location provides consistently high demand for apartment units. The offering provides an attractive high CAP Rate with proforma CAP Rate close to 10%. Built in 1927, the property offers large building size totaling ±9,240 SF of square footage on a sizeable ±6,000 SF lot. The property is an easily maintained two-story building, with a good unit mix of four (4) x 1bed+1bath, and twelve (12) large studios. It has an unusually wide hallway area which provides a good common area atmosphere to the building. The building has been well maintained by the current owner with some notable capital improvements in recent years which include electrical panels upgrade, and a foundation strengthening recently. Each unit offers a spacious and functional layout which includes large full kitchens & bathroom (with bathtub) with a large closet space (some are walk-in closets). Some units have been somewhat updated with vinyl wood flooring, and updated kitchen.
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Vinyl, Carpet, Wood
Fireplace No
Laundry Community Facility, Other
Exterior
View None
Building
Lot Description Level, Other
Water Public
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