Property Detail

Description

The subject property is a 12-unit multifamily apartment complex located in South Central Los Angeles on Western Avenue between Gage and Florence Avenues. The building encompasses approximately 10,306 square feet and is comprised of (11) two-bedroom, one-bathroom units and (1) three-bedroom apartment. Constructed in 1962, the asset sits on a 9,097-square-foot corner lot. The property exhibits noticeable deferred maintenance, and current rents remain well below market averages. The building's scheduled monthly income is $17,316, including a projected rent of $1,995 for the vacant unit. This offering is well-suited for value-add investors seeking an opportunity to implement strategic renovations, pursue cash-for-keys agreements where appropriate, and reposition the units at market rent levels upon turnover.