A well-maintained eight-unit rent-controlled apartment building located in the Pico/Robertson submarket of Los Angeles. Built in 1964, the property has six townhouse units and a total of approximately 12 parking spaces (3 of which are tandem). The property offers a great unit mix of all two-bedroom units and a three-bedroom unit. There is onsite laundry, but one can add value by potentially adding washer/dryers in the units as part of their remodel when a unit becomes vacant. Currently two of the units have been beautifully significantly renovated. Two other units delivered vacant. Additionally, there is approximately 30% upside in the rents. This is a great long term hold or value add opportunity for a hands-on buyer. Existing Loan w/ Chase can be assumed - UPB: ~$2,075,000 with BELOW-MARKET INTEREST RATE OF 4.29% FIXED thru 02-01-24
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