Property Listing No Longer Available for Sale

722 Hartford Avenue, Los Angeles, CA

Multi-family for Sale - $4,650,000 - 16,056 Sq. Ft. on 0.14 acres


Property Info

CIMLS#967681
Location
  722 Hartford Avenue
  Los Angeles CA 90017
UpdatedJanuary 9th, 2018
TypeMulti-family
Price$4,650,000
Building16,056 Sq. Ft.
Land0.14 acres

Property Description

Brian Heller, of SVN, as exclusive listing agent, is pleased to present for sale the Capulet Apartments. The property is comprised of 27 apartment units with a mix of (26) Studio units with full kitchen and bathroom, and (1) 2 Bedroom, 1.5 Bath unit. A majority of the units have been upgraded with amenities including 2-Tone Designer Paint, Hardwood Floors, Granite Countertops, Air Conditioning and Heat, Bathroom Pedestal Sinks, Gas Range and Refrigerator. In addition to unit upgrades, the property has undergone a complete transformation of all of the common areas and hallways, creating a contemporary and hip urban vibe throughout. Further the tenants enjoy the tranquil and luxurious new outdoor lounge area that features a pergola with a large dining area, outdoor sofa, lounge chairs, and relaxing hammock chairs. Additional property upgrades that have been completed to reduce owner expenses and improve property performance include 100% copper plumbing, new vinyl windows, a complete upgrade to the property's electrical system (building power upgrade to 600 AMPS, individual metering for all units and replacement of wiring), new gas lines, upgraded elevator and renovated laundry room. The building has gated entry, and is master metered for water and gas. The new owner will also benefit from the fact the property is a part of the Ratio Utility Billing System (RUBS) for utilities including trash, water and sewer, a program that will significantly reduce expenses for years to come. An astute investor will recognize the property


Financials


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