Property Description:
The property has a strong unit mix of two one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units, and several of these units have been recently remodeled.
The building is stucco, two-story and comprised of 3,981 rentable square feet, and is situated on a lot comprised of 4,077 square feet. With newer paint and well manicured landscaping, this late 1930’s construction shows very well compared to other multi-family properties in the vicinity.
This property provides onsite parking for several tenants and ample street parking is available. 1614 6th Avenue is located at Venice Boulevard between Crenshaw Boulevard and Arlington Avenue, and is just north of the 10 Freeway.
Centrally located in Mid-City, this investment is easily accessible and close to the Westside, Downtown Los Angeles, and Hollywood.In addition to this property’s close proximity to major LA street thoroughfares and freeways, the Metro Transit Authority is scheduled to complete the proposed Metro Crenshaw Line by 2016, which would place a light rail station at the intersection of Pico Boulevard and San Vicente Boulevard.
Mid-City is well known for high property values and rent amounts because of its central location, dense tenant population and high traffic. This is an excellent opportunity for an investor to purchase a well-maintained partially remodeled investment yielding solid returns, with significant potential upside in rents.
Tags: Apartment Building Sales, Commercial Real Estate Brokerage, Commercial Real Estate Investment, David Bramante, For Sale, investment real estate, los angelse real estate, Mid-City, multiple units, New Exclusive Listing
