Multifamily Investment Group of BRC Advisors, as the exclusive listing agent, is pleased to offer for sale this thirty-two (32) unit multifamily investment opportunity located at 2221 Michigan Avenue, in the prime Boyle Heights vicinity. This two-story building was constructed of wood frame and stucco on a raised foundation built in 1926 with a square footage of 9,229 on a 6,055-square foot lot.
Meticulously landscaped and recently renovated, the subject property represents a very desirable asset in the supply-constrained Los Angeles market. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of twenty-four (24) bachelor units, six (6) studio units, and two (2) one-bedroom + one-bathroom units. The subject property is 100% occupied, and is subject to the City of Los Angeles rent control regulation.
The investment boasts spacious floor plans, secured gated entry, new copper plumbing, double pain windows, recently painted, and master metered for gas and electricity.
Given the location, attractive local area amenities, and opportunity to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique premier property that will provide exponential returns. The investment allows an investor to capitalize on a densely populated, affluent, and gentrifying area that continues to experience rapid rent growth.
PLEASE NOTE THE FOLLOWING:
1) DO NOT DISTURB TENANTS, DRIVE BY ONLY
2) Interior Inspection/Books & Records Granted with an Accepted Offer
3) Seller Selects all Services
4) Submit Current Proof of Funds
5) Submit Offer on Residential Income Property Purchase
Agreement - CAR form
Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.
