345 S. Westlake Avenue, Los Angeles, CA
Multi-family for Sale - $3,250,000 - 19,981 Sq. Ft. on 0.46 acres
Property Info
| CIMLS# | 133483 |
| Location 345 S. Westlake Avenue Los Angeles CA 90057 | |
| Updated | May 11th, 2011 |
| Type | Multi-family |
| Price | $3,250,000 |
| Building | 19,981 Sq. Ft. |
| Land | 0.46 acres |
Property Description
* HUGE UPSIDE!
* COMPLETELY REHABBED IN 2010!
* 30+/- GATED ON-SITE PARKING!
* CONTROLLED & SECURED ACCESS!
* POOL, ON-SITE LAUNDRY, INTERCOM, STORAGE!
* 1958 CONSTRUCTION!
Description
The asset is a 39 unit apartment building located in Los Angeles. The building was constructed in1959 and consists of Twenty Eight(28) Large Single units, Ten (10) 1+1 units and One(1) 2+2units. The property is individually metered and has on-site parking spaces for each unit, and is situated on an over sized lot. In 2010 the property went through an extensive rehab which included; the updating of 80%+/- of the units, hardwood floors, new counter tops &fixtures,dual drains installed in pool, completely re-landscaped, all new iron work, new asphalt &stripping, new water heater, new entry, intercom installation, paint and many more capital improvements. The property boasts considerable aesthetic appeal, with other amenities such as, on-site laundry,sparkling swimming pool, secured entry and storage. This offering presents an excellent opportunity for the astute investor to purchase a well-maintained, well-situated Multi-Family income property with excellent cash flow,tremendous rental upside potential
PLEASE CALL FOR A COMPLETE MARKETING PACKAGE!!
Financials
Cap Rate: 6.74%
Gross Rent Multiplier: 8.77
Occupancy: 100%
