5134-5136 Washington blvd 14 Unit Apartment Building Offered at $1,995,000 at a 8.28% Cap Rate Los Angeles, CA 90016

We are pleased to present a 14-unit motel currently operating as an apartment building located along the trending Washington Blvd corridor. With 4 existing vacancies, there is immediate opportunity for an operator to renovate and add-value while working with the existing tenants, that are currently receiving subsidies, as well as several other units that can be potentially delivered vacant.
The majority of units compose of bachelor style layouts, with 1 one-bedroom unit (stand-alone structure), and 1 three-bedroom unit (previous motel office).
With +/-3,526sf of building located on +/-8,123sf, the property is well positioned for a local operator to continue relationships with the existing subsidy providers, or to return the property back to its original motel use.
Located just minutes away from West Adams and Culver City, both investors and tenants are able to take advantage of the ever-improving amenities within the neighborhood, including but not limited to local coffee shops, breweries, restaurants, employment hubs, art galleries, and more!
Buyer shall complete their own due diligence to determine the current legal use, tenancies, legal amount of units, and all aspects relating to the property. For more information please contact Casey Lins at 714-333-6768 or Casey.Lins@kidder.com.