Pleased to present the opportunity to acquire The Steinway, a 5-unit multifamily investment located in one of the hottest, hippest and most rapidly improving neighborhoods of Los Angeles.
The 5-unit apartment building features 4,893 square feet of rentable area on a 5,791-square foot lot and is composed of four one-bedroom/one-bathroom units with additional pull-out beds in dining area and one two-bedroom/two-bathroom unit. Originally built in 1917, The Steinway has undergone a complete renovation over the last couple years, providing an owner the unique ability to attract high income residents who desire high-end finishes. The Steinway Apartments feature restored craftsmen units that utilize a combination of preserved charm and sophisticated remodeling.
Echo Park is central to Los Angeles’ most prominent employments centers; Downtown Los Angeles and Hollywood, providing residents with convenient access to over 750,000 jobs. In an area with virtually no new supply and rising apartment demand driven by a growing job base and the rapidly increasing cost of home ownership, 931 Everett Street is well-positioned to benefit from strong demand for years to come.
Given the property’s prime Echo Park location and high-end finished, The Steinway is well suited to provide investors with healthy returns and long term appreciation.
