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Condominium voor Kopen in Jefferson, Californië
I am pleased to offer for sale an 18 unit-unit apartment community located at 450 South Burlington Avenue. The subject property is located just south of 3rd Street within the Westlake submarket. The Westlake neighborhood is one of the fastest growing pockets of Los Angeles and borders three thriving markets - Koreatown, Downtown & Echo Park. Situated on a 9,089 square foot parcel, the property comprises of 11 one-bedroom units and 7 two-bedroom units. Two of the units will be delivered vacant, providing new ownership the immediate opportunity to renovate and achieve additional rental premiums. The property has 95% remaining rental upside by leasing up units through Section 8 or other rental subsidy programs. Investors will have the opportunity to acquire a sizeable value-add property with potential for a new owner to renovate remaining units and achieve superior future returns moving forward, making 450 South Burlington an excellent acquisition opportunity. This property is subject to a regulatory agreement through the Los Angeles Housing Department that commenced in 1997 with an approximate end date in 5 years. Please contact the Listing agent for details. MLS® ID: 22148847 Listed: 4/20/22 Updated: 10/17/22
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