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Description
La Beth Apartments is a unique 18 residential community comprised of a 12-unit apartment buildings, a 4 unit apartment building, and 2 single family homes on four contiguous lots with separate APN's. This rare investment opportunity is situated on a massive 32,765 square feet of land zoned LAR1 with ample surface parking and excellent access from Imperial Highway and 115th Street. The two apartment buildings located at 1635 & 1643 E Imperial Hwy are comprised of an excellent unit mix of eight (8) 1 bedroom, 1 bath units, seven (7) 2 bedroom, 1bath units, and one (1) 3 bedroom, 1 bath units. The two single family homes located at 1624 & 1628 E 115th Street include a 988 square feet 3 bedroom, 1 bath house (built in 1915) and a 1,064 square feet 2bedroom, 1 bath house (built in 1954), which do not fall under LA City rent control. The property presents strong and reliable current income with ten(10) section 8 tenants and 4 vacant units, two of which are recently renovated with recessed lighting, all new stainless-steel appliances, new hardwood flooring, and modern efficient kitchens. La Beth Apartments also presents the unique opportunity to improve NOI significantly by eliminating the need for an on-site manager and potentially adding accessory dwelling units (ADUs). Buyer to verify. La Beth Apartments is located in South Los Angeles, just north of the105 freeway, providing tenants with easy access to the South Bay, LAX, Downtown Los Angeles, Space X, and Orange County. The immediate location is surrounded by a plethora of amenities, including Martin Luther King Jr. Community Hospital (0.7 miles south), St. Francis Medical Center (2.5 miles east), Magic Johnson Recreation Area (2.0 miles southeast), Watts Towers (1.0 mile north),and Ted Watkins Memorial Park (1.5 miles north). The Willowbrook and Watts neighborhoods have experienced significant rent growth in recent years with limited apartment availability and convenient access to several local schools, hospitals, parks, and employment.
Location
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Listing Agent: Sagiv Rosano Courtesy of: Rosano Partners The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 27th January, 2023 2:01 PM (UTC)
