Property Detail

Description

Exceptional opportunity to own a boutique 15-unit multifamily building in one of the best, most central locations in Los Angeles. Well maintained under long-term legacy ownership and built in 1985 the property is uniquely exempt from the Los Angeles City Rent Stabilization Ordinance (RSO). Comprising approximately 10,792 square feet of building area on a 6,096 SF lot, the four-story structure offers a favorable unit mix consisting of 12 studio with one-bath units and 3 one-bed with one-bath units. 4 studios and 1 one-bed unit feature double height ceilings and additional loft space. This configuration is highly sought after by local professionals, singles and couples with prime location to Cedars-Sinai Medical Center and the Grove. Building amenities cater to a premium lifestyle, including gated, semi-subterranean assigned parking, secure access entry system, elevator, private balconies, on-site laundry and unbeatable walkability. The building is master metered for utilities; however, management has implemented a ratio utility billing system (RUBS) to reduce expenses. A diamond in the rough with tremendous upside and long term continued appreciation.