Property Detail

Description

A rare opportunity to acquire a fully vacant, completely renovated, boutique four-unit apartment building ideally located just steps from the shops, cafes, and restaurants of Larchmont Village and the vibrant dining scene of Koreatown. Spanning approximately 4,042 square feet, this turnkey asset is delivered fully vacant, offering a new owner the rare ability to lease up all four units at full market rents from day one. The location is a major draw for prospective tenants. Larchmont Boulevard's strip of boutique shops, coffee spots, and acclaimed restaurants including Larchmont favorites like Great White, Tu Madre, Cafe Gratitude, and Max & Helen's is just minutes away, along with the diverse dining and nightlife of nearby Koreatown. The area offer. easy access to public transit, and proximity to major employment centers throughout Hollywood, Downtown LA, and the Wilshire corridor all highly attractive amenities for renters. All four units feature 2-bedroom/2-bathroom floor plans, each fully modernized from top to bottom. Every unit includes new kitchen appliances (refrigerator, stove/oven, and microwave), fully updated bathrooms with contemporary finishes, new flooring throughout, new AC/heating systems, and in-unit washer/dryer hookups a standout amenity that commands premium rents and reduces turnover. Parking is a defining feature of this property: each unit is paired with its own private one-car garage plus an additional dedicated parking space directly in front of the garage, for a total of 8 parking spaces across the building a rare offering in this submarket. The building has been comprehensively renovated, reflecting true pride of ownership and minimizing near-term capital expenditures for a new owner. Pro Forma GOI is $156,000 giving this property an incredible GRM of 14.1. Pro Forma Cap Rate is 5.32% reflecting low estimated expenses from the recent full renovation.