Don’t miss this AAA+ Location cashflow opportunity! Two adjoining 4-unit buildings being sold together (8 units total). Perfect opportunity for developer to build a high-end 28-unit apartment building (R3 Zoning, TOC Tier 3 density bonus) or buy-and-hold investor looking for an upgraded turnkey property. This property is located at Olympic and La Brea in the highly sought after Hancock Park/Mid-Wilshire area.
The property includes 4 units located in each building comprised of 2 bedrooms and 1 bathroom. Each unit is considerably large and offers hardwood flooring throughout, new kitchen cabinets/counters, SS appliances, and private washer/dryer in-unit. Some other amenities include tankless water heaters & nice community outdoor space. There are 11 parking spaces total. Current rents have considerable upside.
Designated schools are highly-rated. There is almost no vacancy in this area. Located in close proximity to downtown, Beverly Hills, The Grove, CIM Group 100k sq ft Target/Sprouts retail development on San Vicente & La Brea (to be completed 2019), Larchmont Village, Metro Purple Line Subway Extension, major freeways (101, I-10, and I-405), and most importantly Trejas Tacos. This area includes great restaurants and shopping, the best that LA has to offer!
At development elevation their will be views of downtown and Hollywood Hills (ask agent for photos)
Please DO NOT disturb tenants. Buyer must verify all info and perform their own research and feasibility study.
