Property Description

We are pleased to present 1975 S Corning St, Los Angeles. This courtyard-style building consists of 12,816 sq ft with on-site laundry, nine (9) carports in the rear, and four (4) tandem carports in the front. At a competitive cost/unit of $333,000 – the subject property boasts a desirable unit mix of 60% 3-bedroom & 2-bedroom units and 40% 1-bedroom units. Current ownership has completed the required soft-story retrofit and the asset will be delivered with new electrical panels. Twelve of the fifteen units have been upgraded in recent years and there is still approximately 30% in upside rent potential achievable through organic turnover or tenant buyouts. With ample carport parking spaces, investors have the ability to build three (3) ADU’s by right (buyer to verify). Located north of the 10 Freeway in La Cienega Heights, the property is adjacent to Palms, Culver City, and Beverly Hills. This pride-of-ownership asset offers value-add potential, capital appreciation, and stability in one of the Westside’s strongest rental markets.