1st time on the market since construction in 1964! A rare investment opportunity, this very special mid-century, 10-unit building has been held by the same family for almost 60 years! Located in one of the most desirable areas of Los Angeles and a red hot rental location. Central to the best dining, shopping and entertainment. Just blocks to Beverly Hills, The Grove, The Beverly Center, LACMA, The Peterson or the hippest part of Fairfax. Just a quick zip over Crescent Heights/Laurel Canyon to the Valley, or down LaCienega to the 10 Freeway, or up to Sunset Strip. It's a straight shot east on 3rd St to get to Downtown and soon to be a short walk from the building to the new Metro Rail station under construction at Wilshire and LaCienega connecting you to all parts of the city, without the need for a car. Pride of ownership is evident throughout with numerous capital improvements made in the last 7 years. 8 - (large) 1 bed/1bath units, and 2 - 2 bed/2 bath units (each with their own balconies and gas fed fireplaces) Since 2015 more than half of the units (6) have been updated with improvements including new quartz counter tops, installation of dishwashers, new appliances, new plumbing fixtures, new LED lighting, new flooring and upgraded electrical. Heating is provided cleanly, and quietly, by radiant heating systems in each apartment. All units have air conditioning, as well. On site laundry and additional storage. New roof. Soft story retrofit completed in 2019. Secure parking, gated and remote controlled as well as controlled access to the complex itself. Enjoy excellent cash flow now, with a conservatively estimated opportunity for 25% (+) upside in income!
Listing courtesy of Listing Agent: Horace Davenport (email@example.com) from Listing Office: Keller Williams Larchmont.
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