Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

16

Building size

9,822 sqft

Lot size

12,697 sqft

Year built

1963

Stories

2

Heating

None

Cooling

None

Status

Active

Days on market

18

MLS #

246558125

About this property

Rare opportunity to acquire a 16-unit garden walk-up apartment building in the heart of Mid-City Los Angeles. Built in 1963, the property offers approximately 9,822 square feet of building area on a 12,963-square-foot lot. The unit mix consists primarily of one-bedroom apartments, along with a three-bedroom manager's unit.Six apartments will be delivered vacant, creating an immediate opportunity to renovate, reposition and increase rental income. Recent improvements include a new roof and an updated electrical system. Additional features include 16 secured parking spaces, on-site laundry, separately metered gas and electricity, and a completed earthquake retrofit.Conveniently located near the Pico and Washington Boulevard corridors with easy access to Koreatown, Mid-Wilshire, Downtown Los Angeles, Culver City, public transportation, shopping and dining. Zoned LAR3 and situated on a substantial 0.30-acre parcel, the property presents strong value-add potential in a centrally located Los Angeles rental market.

Location

1240 S Norton Avenue

Los Angeles, Los Angeles, CA, 90019