The S. Corning St Residences 1135 S Corning St 4 Unit Apartment Building $1,495,000 ($373,750/Unit) 3.06% Cap Rate Los Angeles, CA 90035

The Corning St Residences are a four-unit property located north of Pico, south of Olympic and west of La Cienega Blvd, in zip code 90035. This is a high demand rental location directly adjacent to Beverlywood, Beverly Hills, Century City, Miracle Mile and the Pico-Robertson neighborhood .
The property consists of four spacious one-bedroom + one-bathroom units. All tenants are currently paying well below-market rents, creating a quintessential value-add opportunity for new ownership. Three out of the four units have received tasteful renovations, and each is equipped with their own in-unit washer and dryer machines. This four unit building would be appealing to an owner-occupier, who could occupy one of the units and benefit from more favorable financing terms while generating rental income to help offset mortgage costs. The building encompasses approximately 3,998 SF and sits on a generous 6,112 SF lot zoned LAR3. The large lot size and R3 zoning present many different types of future multi-family development opportunities. Toward the back of the property are two garages that have the potential to be converted in ADU units. 1135 S. Corning Street is a well-maintained asset that would be a sound addition to an owner-occupier's portfolio or a value-add multi-family investor looking for stable income with significant long term-term upside. The property will be delivered with ALL tenants in place. Reach out to Jon Bloom directly with any questions: 310-883-4530