90012 Homes with Apartment Subtype

90012 Homes with Apartment Subtype

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Newest 90012 Homes with Apartment Subtype

$5,790,000
AR26143019 MLS ⋅ Active Status
REDUCED PRICE! PRICED BELOW REPLACEMENT COST. 29-Unit Value-Add Opportunity by DODGER STADIUM w/ Panoramic DTLA Views, High-Upside Asset (±76% Rental Upside), 1972’s Construction, Seller May Carry 1st Trust Deed. 939 W College St., a 29-unit value-add apartment community by the Dodger Stadium area, within the Solano Canyon neighborhood. This value-add apartment investment was built in 1972 and offers an excellent location just within walking distance to the Dodger Stadium, Elysian Park, and just minutes away to Downtown Los Angeles, Chinatown, Little Tokyo, and all the shopping and lifestyle options in those areas. The property was solidly constructed with steel and concrete construction and offered at a very low price per unit and low price per square foot for it’s location and asset quality. The property is a podium style 4-story apartment that was built in 1972, has a large 22,677 SF building size, and situated on a ±12,171 SF LA-R4 zoned lot. It is a secured building with gated parking, has a central courtyard, shared laundry area (seller own machines), elevator, and covered garage parking. It offers a SUPERB unit mix of three (3) x 3bedroom + 2bathroom, twenty (20) x 2bedroom + 1bathroom, five (5) x 1bedroom + 1bathroom, and one (1) x Studio units. Approximately five (5) of the units have been updated (buyer to verify). Twenty-four (24) units have private balconies/patio with almost each balcony providing an unparalleled view of Downtown Los Angeles and the city. Each unit is separately metered for electricity and gas. All the units have updated electrical subpanels, and the main panels are waiting to be upgraded (pending permit from city). The property has a central water heater, shared laundry room (seller own machines), and an elevator. All the tenants are on month-to-month lease. Parking is secured provided by 29 spaces. The building has an automatic fire sprinkler in the garage area. Located strategically near Dodger Stadium and Elysian Park, this property is nestled in the heart of Los Angeles' vibrant 90012 zip code, boasting excellent walkability with a Walk Score of 85—meaning residents can ditch the car for most errands, errands that include strolling just a stone's throw (under a mile walk) to iconic Dodger Stadium for game-day thrills and Elysian Park for serene green escapes.

939 W College, Los Angeles
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.