Condominium buy in Westmont California

BRC Advisors-BH is proud to present for sale this turn-key 19-unit apartment property located at 10500 South Vermont Avenue, in South Los Angeles. The property has recently undergone an extensive "gut job" renovation to fourteen of the nineteen units, including: copper plumbing, electrical, kitchens, bathrooms, windows, flooring, stucco, and much more. The seller approximates a total capital expenditure cost of approximately $700,000, which also includes the completion of the city-mandated seismic retrofit of the property as well as the addition of an ADU (unit #19). There are approximately eighteen onsite parking spaces. The property consists of eighteen (18) 1-bedroom units and a studio unit (the ADU). Most of the units are occupied by section 8 tenants with a significant portion of the rental income being deposited into the owner's bank account on the first of every month, providing a steady and reliable income stream during these times of eviction moratoriums which allow tenants to not pay. The property is an excellent "cash-flowing" opportunity for any investor looking to add to their portfolio of income-producing properties. MLS® ID: 22138109 Listed: 3/19/22 Updated: 9/29/22