143 N Reno Street, Los Angeles, CA 90026

$2,300,000 Approx. USD 1 beds, 2 baths

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Photo of Ed Solorzano

Marketed By Ed Solorzano REALTOR® - Sales Associate 310-990-6252 m
310-777-2863 o
Lic#: 01276829
NRDS ID: 175511657
solorzanorealtor@gmail.com Beverly Hills Office
131 South Rodeo Drive, Ste. 100
Beverly Hills, CA 90212
Phone: 310-777-7800
Fax: 310-858-1295

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Agent Remarks

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. Studio units are spacious with an estimated size around 400-500 SF each (buyer to verify). Two of the studios are vacant and may be delivered vacant. The property has a basement that is being used as a shared laundry room and master water heater area. Laundry machines are leased. The property has a secu

Listing Details

Property type: Res Income 2-4 Units (Multi-Family)

Status: ACTIVE

MLS# AR25041703

Price: $2,300,000

HOA Fee is $0.00

Beds: 1

Baths: 2

2 stories

0.14 acres

County: Los Angeles

Zoning: Assessor