The Bard Apartments is a 30-unit 1920's construction apartment building located in Koreatown. The Bard Apartments has a unit mix consisting of 23-studio apartments as well as 7-units that are one-bedrooms. The three-story reinforced brick structure is serviced by two-staircases and no elevator. Units are separately metered for electricity and select units are equipped with 9-foot ceilings, exposed brick walls, stainless-steel appliances, quartz countertops, and more. Community amenities available include controlled-access, on-site laundry facilities, a gated pet park and pet waste station. Value-Added Opportunity - While several units and common areas have been renovated and upgraded there remains a massive loss to lease of 30% as 9 units have not yet been renovated and have drastically below market lease rates. There is approximately a 25% upside in lease rates between current and market rents that a new owner can achieve upon unit turnover and renovation
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