Price Reduced $400,000 | 32 Units | MacArthur Park | Value-Add | Attractive Assumable Loan

Listing Details:

Price: $5,700,000

Price/SF: $322.40

Price/Unit: $178,125

Year Built: 1916

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Property Overview:

The Liberow Group of Marcus & Millichap is pleased to offer for sale a 32-unit apartment

community located at 676 S Rampart Blvd. Ideally located just west of MacArthur Park,

the property boasts a great unit mix of twenty-four (24) studios and eight (8) one-bedrooms.

The building itself is a four-story building on a 5,997 square foot lot and the

rentable square feet checks in at approximately 17,680 square feet.

This asset offers an investor a tremendous opportunity to purchase a well-maintained,

well-located asset with exceptional value-add potential. Based on our calculations,

the rental upside is right around 50%, which gives the buyer of plenty of opportunity to

increase income as tenants move out and increase their returns. Another very intriguing

aspect of this property is that it is separately metered for gas & electricity, meaning

that tenants are responsible for their own utility usage.

This rare opportunity is perfect for long-term investor who is looking to place their

money into a well-located asset with great future potential. If you are interested in this

property, please give us a call today to discuss the opportunity.