315-323 N. Virgil Avenue | Los Angeles, CA 90004
The Subject property is centrally located in the Rampart Village submarket of Los Angeles and has easy access into multiple nearby communities like Downtown Los Angeles, Koreatown, Silver Lake and Hollywood.
The offering is made up of 2 contiguous parcels improved with operating 6 unit apartment buildings on each parcel that are approximately combined 9,594 sq.ft of Gross Building. The property is well maintained, managed and has updated electrical and plumbing in both buildings.
Unit mix consists of twelve (12) 2 Bedroom and 1 Bath units. The building is separately metered and tenants pay for Gas & Electricity. There are 12 surface spaces on property for parking. Potentially there are two storage rooms that could be converted to laundry for additional income.
This multifamily offering at current price and net operating income, the property will provide consistent cash flow with the advantage of being located in an up and coming tight Los Angeles rental market. An investor who takes advantage of the potential upside in rents can achieve an even greater cash flow.