Property Description

Opportunity to own in one of most rapidly appreciating neighborhoods in all of Los Angeles! 2416 S Ridgeley Dr is a 6-unit apartment building situated in the heart of flourishing West Adams. Currently operating at a 5.21% CAP and 11.84 GRM, the subject property is ideal for any investor looking for strong day 1 income with plenty of room to grow rents. 2416 S Ridgeley Dr is comprised of (6) 2-Bed/1-Bath units – (1) Unit is currently vacant and (1) unit is a Sec. 8 tenant. There are (3) two-car garages spaces for a total of 6 parking spots. The subject property is only minutes from trendy Downtown Culver City, Downtown Los Angeles and the city’s metro line. Renters will enjoy the proximity to the 10 , 405 and 110 freeways, making commuting in Los Angeles a breeze. This is an excellent opportunity to acquire an investment property with strong income and future upside in rents and the neighborhood.