Description
I am pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 4.96% Cap Rate and 11.93 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining. *The property currently operates as 26 units; however, the original certificate of occupancy indicates there are 25 apartment units while the LA County Assessor's records indicate there are 29 units at the property. Buyer must conduct their own due diligence regarding this matter
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3BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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12,504SQFT
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$296$/SQFT
School Ratings & Info
Description
I am pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 4.96% Cap Rate and 11.93 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining. *The property currently operates as 26 units; however, the original certificate of occupancy indicates there are 25 apartment units while the LA County Assessor's records indicate there are 29 units at the property. Buyer must conduct their own due diligence regarding this matter
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-01-26T22:42:35.383. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.