511 S Rampart Boulevard

    Los Angeles (City), CA 90057
    • $4,870,000
    • STATUS: Active Under Contract
    • ON SITE: 124 days
    • ID#: 18373218
    Under Contract
    UPDATED: 31 min ago
    $4,870,000
    • 0
      BEDS
    • 0.29
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,036
      SQFT
    • $256
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    511 S. Rampart Boulevard, is a 36-unit apartment building located in the emerging Westlake submarket of Los Angeles. The Property is a well maintained stucco building originally constructed in 1924, that has undergone some exterior and interior capital improvements. The offering represents an ideal value-add investment opportunity with tremendous rental upside. The Property has a total unit mix of 1 bachelor, 27 studios, and 8 one bedroom one bath units. Current ownership has renovated 13 out of the 36 units with electrical and plumbing upgrades and luxury modern finishes. The Property is secured with gated access and common areas and hallways have been expertly renovated throughout. Exterior and building upgrades include a new roof, new stucco and exterior paint, new tile, lighting, and paint in lobby/halls, new drain lines, and new landscaping. The offering represents an opportunity to acquire a charming 1920's building in a rapidly changing and highly sought after neighborhood.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-10T07:26:46.967. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/86349830

    511 S Rampart Boulevard Los Angeles (City), CA 90057

    • Price: $4,870,000
    • Status: Active Under Contract
    • Updated: 31 min ago
    • ID#: 18373218
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.29
    Acres
    19,036
    SQFT
    $256
    $/SQFT
    1924
    Built
    Neighborhood:
    C42 - Downtown L.A.
    County:
    Los Angeles
    Area:
    C42 - Downtown L.A.
    Property Description
    511 S. Rampart Boulevard, is a 36-unit apartment building located in the emerging Westlake submarket of Los Angeles. The Property is a well maintained stucco building originally constructed in 1924, that has undergone some exterior and interior capital improvements. The offering represents an ideal value-add investment opportunity with tremendous rental upside. The Property has a total unit mix of 1 bachelor, 27 studios, and 8 one bedroom one bath units. Current ownership has renovated 13 out of the 36 units with electrical and plumbing upgrades and luxury modern finishes. The Property is secured with gated access and common areas and hallways have been expertly renovated throughout. Exterior and building upgrades include a new roof, new stucco and exterior paint, new tile, lighting, and paint in lobby/halls, new drain lines, and new landscaping. The offering represents an opportunity to acquire a charming 1920's building in a rapidly changing and highly sought after neighborhood.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Street Parking YN Yes

    Interior Features

    Appliances Refrigerator Appliances YN Yes Cooling Wall Window Cooling YN Yes

    Property Features

    Cap Rate 4.50 Gross Multiplier 11.79 Gross Operating Income 400500.00 Improvements Amount 776665 Land Value 2071110 Net Operating Income 218907.00 Special Listing Conditions Standard Total Expenses 181593.00 Zoning Lar4

    Listing provided courtesy of Janet Neman of Charles Dunn West La.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-10T07:26:46.967. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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