Property Description

6 unit value-add building in the Pico-Union area of Los Angeles. This property has a fantastic unit mix consisting of (1) 3-Bed/2-Bath unit, (1) 2-Bed/1-Bath unit, and (4) 1-Bed/1-Bath units. The property has 6 parking garages that are conveniently located for tenants. The mandatory retrofit has been completed on the garages. The property is being delivered at a 4.19% Cap and a 13.89 GRM on current rents with upside potential of a Market 8.46% Cap and 8.62 GRM. This property is surrounded by new development and is the perfect asset for a value-add investor.