The subject property is a two story wood frame stucco 7-unit apartment building built in 1955. The unit mix consists of five one bedroom one bath units and two-two bedroom one bath units. Both of the two bedroom units will be delivered vacant at the close of escrow. The building is separately metered for utilities and each unit has its own hot water heater. There is a car port and garage parking for 7 cars. The car port needs to be earthquake retrofitted.
Located one block west of La Cienega Blvd. and just south of Pico Blvd., this property boasts a walkability score of 92%, meaning that it's a walker's paradise - being able to do daily errands that do not require a car. Also, this location has man nearby public transportation options and good biking access.
This property has had substantial capital improvements throughout the years. They are:
1) All windows have been replaced with double-pane windows
2) The entire building has been repaired with copper plumbing, both horizontal and vertical
3) The main line sewer to the building has been replaced to the street and installed with two clean outs.
4) All electric circuit breakers were upgraded in all of the units
5) Three apartments have wall air conditioning units
6) Five units have been upgraded with hardwood floors
