12 Units | Pico-Union | Value Add

Highlights:

• Built in 1929 | RSO Property
• Value Add | 15%+ Upside
• New Roof in 2017
• No Retrofitting Required
• Under $200k per Unit
• Located in an Opportunity Zone
• Strong Pico-Union Pocket
• 94 Walk Score

Description:

The LAAA Team of Marcus & Millichap is pleased to present for sale the New Hampshire Villas, a 12-unit apartment complex located at 1145 S New Hampshire Avenue in Los Angeles, California. Situated in the lively Pico-Union, this asset offers investors a near turnkey opportunity with strong rental upside potential.

Originally built in 1929 and remodeled in 2018, the property is situated on a 5,399-square-foot lot with 6,710 square feet of rentable area. The unit mix includes eight studio/one-bath units and four one-bedroom/one-bath units, all featuring high-end finishes, stainless steel appliances, and modern interiors. The property has been thoughtfully maintained by current ownership and is complete with updated flooring, tiles, countertops, and a new roof that was installed in 2017. With a Walk Score of 94, tenants enjoy unparalleled access to restaurants, bars, shopping, and public transit options, making it a highly desirable location for renters seeking convenience and lifestyle appeal. The property is individually metered for gas and electricity, with separate water heaters for each unit, ensuring efficient operational management.

With an estimated 15 percent upside in rents, this offering presents a rare chance to acquire a stabilized, well-maintained asset with the opportunity to increase income over time in one of Los Angeles’ most sought-after rental submarkets.

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