Description
I am pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential. Situated on a 7,239 square foot parcel, the property comprises of four one-bedroom units, three two-bedroom units, and one three-bedroom unit (The three-bedroom unit is currently a two-bedroom den with potential to convert to a three-bedroom). Current ownership has extensively renovated three of the eight units at the property including adding stainless steel appliances, new cabinetry, new flooring, quartzite counter-tops, new ceiling fans, and upgraded lighting and is achieving premiums over the average in-place rents: $924 for one-bedroom units and $721 for two bedroom units. Additionally, current ownership has already completed the seismic retrofit work.
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13BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
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8,300SQFT
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$384$/SQFT
School Ratings & Info
Description
I am pleased to offer for sale an eight-unit apartment community located at 5801 Packard Street. The offering represents an excellent buying opportunity to acquire a stabilized asset with remaining value-add potential. Situated on a 7,239 square foot parcel, the property comprises of four one-bedroom units, three two-bedroom units, and one three-bedroom unit (The three-bedroom unit is currently a two-bedroom den with potential to convert to a three-bedroom). Current ownership has extensively renovated three of the eight units at the property including adding stainless steel appliances, new cabinetry, new flooring, quartzite counter-tops, new ceiling fans, and upgraded lighting and is achieving premiums over the average in-place rents: $924 for one-bedroom units and $721 for two bedroom units. Additionally, current ownership has already completed the seismic retrofit work.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-02-27T23:42:24.927. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.