We are pleased to present the opportunity to acquire a 5-unit apartment building in Atwater Village, across the river from Elysian Valley (more commonly known as Frog Town). 2910 Acresite Street was built in 1965 and sits on a LAR1 zoned, 10,078 square foot lot with 4,898 square feet of rentable space. This low maintenance property features an excellent unit mix of one (1) 2 Bed/1.5 Bath townhouse unit and four (4) 3 Bed/2 Bath units with ample parking and an on-site laundry room. An incoming investor can capitalize on over 39% upside in potential gross rent collections in this value-add deal, as rents in the area have continued to skyrocket. The property is on the corner lot of Acresite Street, right next to an entrance to the Los Angeles Riverwalk, where The North Atwater East Bank Riverway Project will transform 2.2 miles of existing asphalt maintenance road into a clearly-marked, multi-use, accessible riverway from the 134 Freeway to Los Feliz Blvd. Future tenants will have ease of accessing this area for exercise and entertainment, significantly boosting the property's potential for future rents as the area continues to be one of the most rapidly gentrifying pockets in the city of Los Angeles.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
