$2,040,000

1633 Rockwood Street

Los Angeles CA, 90026

Description

Built in 1965, the building contains an excellent unit mix, consisting entirely of large two- and four- bedroom apartments, several of which are townhouse floorplans. Given the significant improvements in the Westlake rental market over the span of several years, current rents are now far below those of similar apartments in the area. A new investor may be able to capitalize on approximately 44% in rent upside, therebysignificantly improving their cash flow. The property is not on the LADBS seismic retrofit list, allowing a new owner to enjoy much lower deferred maintenance expenses. Although parking is often scarce in the immediate neighborhood, this property features several open on-site parking spaces. Laundry facilities at the property also provide an additional income stream for the owner. ***A four-bedroom apartment is currently being leased as two separate two-bedroom units.**

Details

MLS#20608086
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1965
Days On Site178

Features

SQ Feet6,440
Story(s)2
Acreage0.19
Water FrontNo
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Area Information
StateCA
CountyLos Angeles
CityLos Angeles
Zip Code90026
Area671 - Silver Lake
Listing VS Median (in 90026)
Price:
$2,040,000
low | high
Med:
$979,000
100% of Average
SqFt:
6,440
low | high
Med:
1,459
100% of Average
$ / SqFt:
$317
low | high
Med:
$671
61.827870284509% of Average
On Site:
178
low | high
Med:
93
100% of Average
Listing Updated: January 15, 2021 1:46:01 AM PST
Roderick Rick Raymundo LogoMLS Number: 20608086
Listing Provided By:
Roderick Rick Raymundo  of  Marcus Millichap
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