Built in 1965, the building contains an excellent unit mix, consisting entirely of large two- and four- bedroom apartments, several of which are townhouse floorplans. Given the significant improvements in the Westlake rental market over the span of several years, current rents are now far below those of similar apartments in the area. A new investor may be able to capitalize on approximately 44% in rent upside, therebysignificantly improving their cash flow. The property is not on the LADBS seismic retrofit list, allowing a new owner to enjoy much lower deferred maintenance expenses. Although parking is often scarce in the immediate neighborhood, this property features several open on-site parking spaces. Laundry facilities at the property also provide an additional income stream for the owner. ***A four-bedroom apartment is currently being leased as two separate two-bedroom units.**
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