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Michigan Avenue Apartments 2221 Michigan Ave 32 Unit Apartment Building $5,290,000 ($165,313/Unit) 6.20% Cap Rate Los Angeles, CA 90033
INVESTMENT HIGHLIGHTS
- opportunity to master lease
- fully renovated with all new building systems
- house your own programmed clients
EXECUTIVE SUMMARY
32-unit property with 8 apartments and 24 singles. All units have their own bathrooms and kitchens. This would be a perfect opportunity for a master lease option or purchase by a program to house their own clients. All units are to be delivered fully renovated and housing ready. A full renovation is underway which includes complete plumbing re-pipe, electrical re-wire with all brand new equipment and separate metering, mini split HVAC systems, and all new finishes.
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- High Speed Internet Access
- Quartz Countertops
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Gated
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 26 | - | 170 - 330 |
| 1+1 | 6 | - | 300 - 475 |
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Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (73)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 5183-003-012 | Improvements Assessment | $1,800,000 |
| Land Assessment | $600,000 | Total Assessment | $2,400,000 |
PROPERTY TAXES
Parcel Number
5183-003-012
Land Assessment
$600,000
Improvements Assessment
$1,800,000
Total Assessment
$2,400,000
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Michigan Avenue Apartments | 2221 Michigan Ave
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