KW Commercial as exclusive advisors are pleased to present the sale of 3207 Rowena Avenue. Built in 1957, known as the Hale Loke, is a classic Mid-Century apartment community located in Los Feliz (90027), one of the most stable and desirable neighborhoods in Los Angeles.
3207 Rowena Avenue features very large apartment homes (+/-9,037 SF of improvements) and an exceptional unit composition comprised of:
- Two (2) 2 Bedroom - 2 Bathroom
- Two (2) 2 Bedroom – 2.5 Bathroom
- Five (5) 1 Bedroom - 1 Bathroom
- One (1) 2 Bedroom - 2 Bathroom plus Den
Current ownership has performed quality renovations in 40% of the apartment homes (4 of 10 units), thus creating a strong demand for units as they become available. With this proven concept, the asset experiences healthy current income upon acquisition with the opportunity to capture the remaining rental upside as units turn over.
Many second-floor units feature balconies and / or treetop views.Renovated apartment units feature a combination of updated baths and kitchens and hardwood flooring.
The property is sited on a large 10,530 square foot parcel with a systems package including separate electrical and gas utilities, central boiler and common area laundry facilities.
Parking is provided for 12 vehicles (individual and/or tandem formats).
Centrally located in the most prime Los Feliz neighborhood, 3207 Rowena Avenue’s transit oriented and very walkable location offers residents access to many nearby venues including Gelsons and Trader Joe’s markets, along with numerous dining/entertainment locations including Meze Café, Square One Silverlake, Barbix, Starbucks and What the Fish. Travel south just 1.6 miles puts you in Silver Lake’s Sunset Junction which is considered the trendiest community in Southern California, go east and you are in DTLA and locations west put you in Hollywood proper – all providing a myriad of cultural destinations and dining options.
Given the property’s location and strong income metrics, 3207 Rowena Avenue is an ideal investment for apartment operators seeking strong returns along with long term wealth preservation and appreciation.
