PROPERTY TOURS SCHEDULED FOR 5/8/2019 BETWEEN 10AM TO 12PM
The La Brea Apartments is an eight-unit multifamily property located in the heart of Los Angeles’ Mid-City neighborhood, one of the city’s hottest and rapidly evolving new submarkets. The community and local owners are enjoying the benefits of rapid growth and urbanization that are happening at the local level. Since 2015, the neighborhood has witnessed the completion of numerous new ground-up development projects, and apartment owners have begun to comprehensively renovate and update their buildings. The relative affordability of the neighborhood is also driving a strong single-family residence market, with many millennials buying into the community.
Located at 1726 S La Brea Ave, The La Brea Apartments was built in 1950 and features ±4,808 square-feet of improvements on a ±6,521 square-foot lot. The property features all one-bedroom and one-bath units with an average living area of 600 square feet each and individual water heaters.
The La Brea Apartments is the ideal investment opportunity for all renovation-oriented buyers. A rare opportunity as six of the eight units will be vacant as of 7/31/2019, allowing new ownership to immediately renovate, remodel and reposition the property to appeal to higher-paying professionals and potential tenants. The vacancies also allow a buyer to put their own personal touch on the renovations, allowing for flexibility in bringing the interiors and exteriors into the 21st century.
