Comprised of 16 post war units in one of the best locations Los Feliz has to offer, 4230 & 4250 Los Feliz Blvd is a true value-add gem with enormous upside potential. An even mix of 2-bed/1-bath and 1-Bed/1Bath units makes the property perfectly positioned for the affluent millennial renters that are drawn to this enclave by its hip restaurants and trendy boutique shops. The property is made up of two side-by-side lots, each containing an 8-unit, 2-story apartment building. Separate APNs mean there is no need for an on-site manager despite there being a total of 16 units. Most units remain in original condition, although ownership has undertaken 2 recent renovations. There is laundry on site and all units are separately metered for gas and electric. Surface parking is at the rear and accessible via a central driveway. Although the property is ideally suited as a reposition opportunity, the R3 zoning (Tier 2 TOC designation) offers potential future development opportunity as well.
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