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Lafayette Hotel Apartments 2731 Beverly Blvd 66 Unit Apartment Building $9,500,000 ($143,939/Unit) 6.51% Cap Rate Los Angeles, CA 90057
INVESTMENT HIGHLIGHTS
- Fully Restored - New plumbing - waste lines- electric - sewer- roof - windows - lighting - flooring - bathrooms
- Fantastic rental area - easy to rent units ranging from $1200 - $1700
- Easy to manage - low maintenance- great on site manager.
- Close to Downtown - Koreatown - East Hollywood - Echo Park and Silverlake
EXECUTIVE SUMMARY
** POSSIBLE TO DELIVER VACANT *** HAS HOTEL POTENTIAL ***. COMMERCIAL LOT *** USED TO BE A HOTEL *** AREA FOR RESTAURANT OR BAR ON GROUND FLOOR **
Gorgeous architecturally prominent 4 story building in the area referred to as "Rampart Village" that is quickly becoming the new Echo Park and Silverlake and minutes from Downtown LA. This property has undergone major renovations including new roof, new copper plumbing, new waste lines, updated electrical system, restored lobby and all common areas, updated windows, and thoughtfully renovated units. The units are large bachelors with full bathrooms and small kitchenettes. These units are bright with high ceilings and city views. Incredible lobby that welcomes the tenants . The units rent like hotcakes. This is the perfect "CASH FLOW" deal as all the heavy lifting is done. On site and off site management makes this an easy asset to handle with minimum maintenance. 65 units plus large ground floor retail /office/ live work space.
Gorgeous architecturally prominent 4 story building in the area referred to as "Rampart Village" that is quickly becoming the new Echo Park and Silverlake and minutes from Downtown LA. This property has undergone major renovations including new roof, new copper plumbing, new waste lines, updated electrical system, restored lobby and all common areas, updated windows, and thoughtfully renovated units. The units are large bachelors with full bathrooms and small kitchenettes. These units are bright with high ceilings and city views. Incredible lobby that welcomes the tenants . The units rent like hotcakes. This is the perfect "CASH FLOW" deal as all the heavy lifting is done. On site and off site management makes this an easy asset to handle with minimum maintenance. 65 units plus large ground floor retail /office/ live work space.
PROPERTY FACTS
| Price | $9,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $143,939 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.51% | Building Size | 24,795 SF |
| Gross Rent Multiplier | 9 | Average Occupancy | 97% |
| No. Units | 66 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2019 |
| Property Subtype | Apartment | ||
| Zoning | LAC2 - Commercial | ||
| Price | $9,500,000 |
| Price Per Unit | $143,939 |
| Sale Type | Investment |
| Cap Rate | 6.51% |
| Gross Rent Multiplier | 9 |
| No. Units | 66 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 24,795 SF |
| Average Occupancy | 97% |
| No. Stories | 4 |
| Year Built/Renovated | 1927/2019 |
| Zoning | LAC2 - Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Elevator
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 63 | $1,225 | 220 - 400 |
| 1+1 | 2 | $1,600 | - |
1 1
Walk Score®
Walker's Paradise (90)
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 5156-020-018 | Improvements Assessment | $8,924,150 |
| Land Assessment | $1,394,398 | Total Assessment | $10,318,548 |
PROPERTY TAXES
Parcel Number
5156-020-018
Land Assessment
$1,394,398
Improvements Assessment
$8,924,150
Total Assessment
$10,318,548
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Lafayette Hotel Apartments | 2731 Beverly Blvd
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