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$ 1,795,000
Est. payment | /mo
5,404 SqFt
$ 1,795,000
Est. payment | /mo
5,404 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,404 sqft
Price per Sqft $332
MLS Listing ID CL26873261
HOA Y/N No
Year Built 1953
Lot Size 9,668 Sqft
Acres 0.2219
Property Sub-Type Other
Property Description
Well-maintained 9-unit apartment community located in the desirable Westlake North neighborhood of Los Angeles. Ownership has invested over $700,000 in capital improvements, creating a turnkey asset featuring remodeled units with in-unit washer/dryers, recessed lighting, upgraded windows, modern appliances, updated electrical systems, copper plumbing, and a newer roof. The property also offers secured code-gated access, six on-site parking spaces, and spacious private sundeck patios for select two-bedroom units.The property delivers strong in-place cash flow at a 6.8% CAP rate while offering more than 26% rental upside. A large community backyard presents potential for future ADU development, providing additional value-add opportunities. Ideally situated just south of West 3rd Street, residents enjoy walkable access to popular retail, dining, and ongoing neighborhood revitalization, with convenient access to Echo Park, Silver Lake, and Downtown Los Angeles.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating None
Cooling None
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 5153006010
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Listed by Sean Namigohar • Lyon Stahl Investment Real Estate, Inc.
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