Arthur Arejian of Vanguard Investments Inc., as exclusive listing agent, is pleased to present an opportunity to purchase a 9-unit apartment building located at 12621 Casell Ave, in the City of Los Angeles, California, 90066. This prime West Los Angeles property consists of an excellent unit mix of incredibly spacious 6 one bedroom-one bathroom units and 3 two bedroom-two bathroom units. The project was constructed in 1970 and sits on 7,120 SF of land.
THE PROPERTY
This property is a 2-story building located in West Los Angeles with ample parking. 12621 Caswell Ave is a very charming apartment building situated in Mar Vista / Culver City Adjacent . This property, built in 1970, with wood frame and stucco construction, is separately metered for gas & electricity and is comprised of 7,508 SQ FT of improvements sitting on a 7,120 SQ FT lot. This property is located S of Venice Blvd, We of Centinela, and N of Washington Blvd.
This asset offers an investor the rare opportunity to purchase a well-maintained, well-located asset with exceptional value to add and upside potential. For an investor focused on appreciation, this is an ideal investment. The average square feet of each unit is approximately 834 SF. The current average rent is only $1,569 dollars, and market rents at $2,211 on an average basis based on the rent roll we have. This is a very rare opportunity and this asset is perfect for a long term astute investor who has longevity in mind with respect to an investment timeline. A new investor can capitalize on the tight rental market and high rents in this neighborhood by implementing a strategic unit interior renovation plan, which will upgrade the Units and allow the buyer to command top of the market rents. 30% Rental Upside in Rents!
