BRC Advisors is pleased to present for sale, an extraordinary value-add opportunity to acquire a 64 Unit residential (single-room-occupancy) building + ~4,550 square feet of retail/commercial + ~6,436 square feet of basement** in booming downtown Los Angeles. The entire residential component will be delivered vacant to a buyer! Most of the commercial space and the basement will be also delivered vacant. Currently, the residential units do not have private bathrooms; however, there are 2 shower rooms and 3 toilet facilities on each floor. Additionally, Seller has renovation plans which include putting bathrooms in the units. This is a very rare opportunity to acquire a property of this magnitude almost entirely vacant upon acquisition, allowing for a buyer not to have to deal with tenant relocations.
*CONTACT AGENT TO REQUEST SETUP AND RENT ROLL FOR MORE DETAILS
**64 residential units + 3 retail spaces + 1 basement = 68 total units
***Cap rate and grm indicated above are proforma, based on post-renovation of interior + common areas, with a budget of $816,000 (avg of $12,000/unit) and lease up of vacant units \ ($6,995,000 Purchase Price + $816,000 Rehab Costs = $7,811,000 Total Cost
****ALL INFORMATION BASED ON RELIABLE SOURCES; HOWEVER, BUYER MUST INDEPENDENTLY VERIFY ALL OF THE INFORMATION, INCLUDING ANY REFERENCES TO SQUARE FOOTAGE
