2006 South Harcourt Avenue

Highlights:

• 4,188 SF building
• 4 units
• Built in 1923
• Renovated in 2019
• Fully occupied
• Over 25% upside in rental income!
• Prime Los Angeles location
• Strong rental demand

Description:

Introducing a prime investment opportunity in the heart of Los Angeles. This charming 4,188 SF building, boasting 4 units, seamlessly blends historic allure with modern upgrades following its 2019 renovation. Two of the four units were extensively upgraded as part of the recent renovation. This property ensures a strong rental demand with a 100% occupancy, an excellent unit mix of all three bedrooms, and over 25% upside potential in rental income.

Over $200k was spent on capital improvements by previous ownership, which include electrical/plumbing upgrades, foundation retrofitting, new sewer line, and interior remodel of Units 2008 and 2008.5. Part of the scope of work for the 2018/2019 interior remodel was the addition of a bathroom to each of these two units, which increased the achievable market rents.

The value-add in the property lies in an investor’s ability to remodel the two remaining units with similar interior upgrades/bathroom additions and increasing market rents for those units as well. There is also potential value-add by constructing multiple ADUs (buyer to verify). The long-term value is in the property’s ideal location in the revitalizing Mid-City/West Adams area between the Pacific Ocean and Downtown Los Angeles providing the prospect of solid long-term appreciation and tenant demand.

Discover the vibrant surroundings of this Los Angeles location, offering a dynamic blend of urban allure and laid-back California charm. The area is renowned for its diverse selection of dining, shopping, and entertainment options, catering to the varied interests of its residents. Nearby attractions such as the Baldwin Hills Scenic Overlook, Kenneth Hahn State Recreation Area, and the bustling Culver City Art District provide ample opportunities for outdoor recreation and cultural exploration. With its convenient access to major transportation routes and proximity to the heart of LA, the area presents an attractive opportunity for multifamily, low-rise/garden investors seeking to capitalize on the city's thriving real estate market.