The Residences of Vermont hits the market for the first time in nearly 50 years! This prime 6-unit asset provides incredible value-add repositioning opportunity with 45% rental upside in addition to development potential with C2 zoning w/ Tier 3 TOC. Delivered with current 4.8 CAP and 14.3 GRM on current rents. This 6-unit gated multifamily offering consists of one 2-story building with 4 units, and 2 large, detached bungalow residences. All units are large 1 bedroom/1 bath and include their own entrance and spacious, separate dining room that can be repurposed for den, office, or bedroom. Parking lot can accommodate 5-6 vehicles. This property benefits from significant frontage on Vermont and 17th Place in the thriving, high-density K-Town/Pico Union neighborhood that has been attracting massive investment and development. Tenants have remained current on rent throughout Covid. Close to Loyola High School and USC. Subject to Los Angeles Rent Stabilization Ordinance (RSO).Do not disturb tenants. Buyer to conduct own investigations and verify all information.
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