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$3,399,000
Est. payment /mo
27 Beds
24 Baths
14,042 SqFt
UPDATED:
12/14/2024 01:11 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,042 sqft
Price per Sqft $242
MLS Listing ID 24399531
Bedrooms 27
HOA Y/N No
Year Built 1964
Lot Size 0.296 Acres
Property Description
PARTNERSHIP WANTS IT SOLD!!! (Listed Price Close to What Partnership Paid When They Purchased the Building) We are pleased to present the opportunity to acquire Arlington Apartments in the submarket of Arlington Heights (LA Market) and in close proximity to Mid-City and Koreatown. This offering includes an 18-unit multifamily building built in 1964 with a foot print of approximately 14,042 SF, sitting on a 12,899 SF lot zoned LAR3. Arlington Apartments offers an investor a significant value add opportunity with approximately 75% (+/-) potential upside in rents spread across a desirable unit mix of over 50% 2 bedroom units. Soft story retrofit has been completed and the seller owns the laundry machines. This well-located multifamily property offers an investor a rare opportunity to secure a larger sized asset in a high demand and growth submarket with real reposition opportunity and impressive frontage. Arlington Heights is diverse and populated neighborhood in Central Los Angeles with Koreatown to the north, Mid-City and Mid-Wilshire to the west, Jefferson Park to the south and Harvard Heights to the east. Located centrally in Los Angeles, Arlington Heights is a transit friendly melting pot of cultural influences. Situated just north of the 10 FWY, this neighborhood provides easy access to Culver City to the west and downtown LA to the east. Along La Brea Avenue, Wilshire Blvd, and Western Ave you will find restaurants and popular bars. The stretch of Washington Blvd, anchored by the Underground Museum between 3rd and 6th avenues, is becoming a desirable location for art galleries and boutiques. Nestled right at the convergence of main thoroughfares and freeways, Arlington Heights allows for easy access to the wider region of LA and key employment centers.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR3
Interior
Heating None
Cooling Central Air
Fireplace No
Exterior
Parking Features Carport
Total Parking Spaces 18
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5060031022
Special Listing Condition Standard
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Listed by Hirsch Sherman • Keller Williams Realty Calabasas
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HomeSmart Realty West
Broker | License ID: DRE#1905908
Broker License ID: DRE#1905908