Well maintained 12-unit apartment building in a Prime Miracle Mile location North of Wilshire and West of La Brea. Extremely strong rental demand area with strong income producing unit mix including (12) large 1-bedroom/1-bathroom units averaging 766 sqft. Rare opportunity to purchase a Pro Forma 7% cap rate. Three units… Read More will be delivered vacant, providing new ownership the ability to close escrow with 25% of the building vacant. Significant and recent (2025) capital improvements include a brand new main electrical panel, brand new subpanels, brand new electrical wiring, a brand-new roof, new copper plumbing, new horizontal sewer pipes under building, new 100-gallon water heater, and new sump pumps. Recently passed insurance inspections. Only two units have undergone light upgrades, leaving a sophisticated investor the opportunity to complete more thorough unit level and common area renovations to achieve 20% rental upside. Further opportunities to increase cash flow include implementing Ratio Utility Billing Systems (RUBS), renting out storage closets, and increasing the building's curb appeal and upgrading the building common areas. Almost all units will be eligible for rent increases on 12/1/2026. Building is master metered for gas, tenants pay for trash, and there is no parking. On-site laundry machines are landlord owned. Professionally managed and cared for property. The building offers a rare value add opportunity whereby significant capital improvements have been recently completed and there is still substantial rental upside. Read Less
Courtesy of Glaser Property Management Inc. 310-367-9946
Listing Snapshot
Days Online
2
Last Updated
Property Type
Other
Beds
12
Square Ft.
9,196
Lot Size
0.18 Acres
Year Built
1927
MLS Number
26716803
30 Days Snapshot Of 90036
$2.34M
+47%
(avg) sold price
8
+33%
homes sold
67
+6%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Range/Oven, Refrigerator
Building
9,196 sq ft, Built in 1927, Levels: Two
Cooling
None
Disclosures
None
Garage
None
Heating
Wall
Lot
LotAcreage: 0.1792, LotSizeArea: 7,804
Parking
TotalParking: 0
Property
NumberOfUnits: 12, Zoning: LAR4
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Confirm your time
Fill in your details and we will contact you to confirm a time.
