On behalf of ownership as the exclusive listing agent, Lucrum Real Estate Group of KW Commercial is proud to present, 1301 S. Saltair Avenue. This building is a value-add fourplex located on a corner lot in prime West Los Angeles, CA. The property is a garden-style apartment complex built in 1961. The asset is a +/- 3,672 square foot building on +/- 4,255 square foot lot, zoned LAR3 and comprised of 1 (1+1), 2 (2+1), and 1 large (3+2). Building construction is of wood frame with a flat roof and painted stucco exterior.
Building amenities include garaged parking (1 two-car garage & 1 one-car garage), patio & BBQ area, and laundry room. Units are spacious, offering air conditioning, plenty of cabinet space, the large 3-bedroom unit has a fireplace and two units have undergone remodel with new counter-tops, flooring, and paint.
Aesthetically, the property offers beautiful curb appeal, landscaping, mature trees and is well maintained.
Located in prime West Los Angeles, south of Wilshire Blvd. and east of Bundy Dr., the property is centrally located near the 405-freeway and 10-freeway in a well-sought-after community near Brentwood, Santa Monica and the beach.
Boasting a “walk score” of 88, the location is ranked as very walkable. The complex serves a population of 274,354 and median household income of $91,919 within a 3-mile radius. With the property just north of Santa Monica Blvd. and just south of Wilshire Blvd., tenants have easy access to a thriving community filled with endless opportunities for nearby education, employment, entertainment, recreation & dining.
Low vacancy rates in West Los Angeles coupled with continued low interest rates have led to multifamily investment properties becoming a highly attractive assets class. Vacancy rate trends appear on par with the Los Angeles metro area remaining steady over the last 12 months at roughly 3.3%.
