Condominium buy in Los Angeles California

Maher Commercial Realty is proud to present a generational student housing building in the supply constrained North Westwood Village submarket of Los Angeles. The subject site was torn down and rebuilt by the current owner in 1996, which means the property does not fall under the Los Angeles Rent Stabilization Ordinance (but does fall under CA state rent control). The property was rebuilt in 1996 with ten large units totaling 27 total bedrooms. The floorplans are perfectly situated to co-living, with rooms large enough to fit multiple beds, large living rooms, multiple bathrooms per unit, and adequate kitchens. This property presents a Buyer with the opportunity to furnish each bedroom with 2-3 beds and rent them at a pro forma $1,100 per bed, bringing the buildings gross annual income to $726,000. Two of the units are currently furnished and the building is currently approximately 50% vacant. There are currently no tenants on long-term leases. The building and units are in good to great condition. The building exterior, courtyard, side yard, hallways and subterranean parking appear well maintained. The units are also very well maintained with updated flooring, bathrooms, and some units with updated kitchens. Glenrock is one of the best streets in North Westwood Village, commanding a high rental value because it is walking distance to campus yet generally considered one of the quiet streets for students to live. MLS® ID: 22201803 Listed: 10/2/22 Updated: 10/4/22 Interior Features Total Bedrooms: 27 Total Bathrooms: 21 Interior Features: Elevator Heating: Central Exterior/Building Features Lot Size: 8,100 ft2 lot Other Property Details Area Name: C05 - Westwood - Century City Garage: No Parking: Underground Parking Total: 30.0 View: N County: Los Angeles Pool: No Total Stories: 3 Zoning: LAR4 TOC Tier 3 Listed by Oron Maher, Maher Commercial Realty, Based on information from California Regional Multiple Listing Service, Inc. as of 10/4/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.