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5134 W Washington Boulevard

Los Angeles (City), CA 90016
  • $1,999,000
  • STATUS: Active Under Contract
  • ON SITE: 245 Days
  • ID#: 23322219
Under Contract
UPDATED: 122 min ago
$1,999,000
  • 14
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,526
    SQFT
  • $567
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1945
County:

School Ratings & Info

Listing Agent(s): Casey Lins of Kidder Mathews of California, Inc. (858-369-3010)


Description

4th Price Reduction! We are pleased to present a 14-unit motel currently operating as an apartment building located along the trending Washington Blvd corridor. With 4 existing vacancies and a projected 7.98% CAP upon leasing of the vacancies, there is immediate opportunity for an operator to renovate and add-value while working with the existing tenants (majority of which are transitional housing) that are currently receiving subsidies up to $1,660 per month! The majority of units compose of bachelor style layouts (no kitchen), with 1 one bedroom unit (stand-alone structure), and 1 two bedroom unit (previous motel office). With 3,526sf of building located on 8,123sf of land, the property is well positioned for a local operator to continue relationships with the existing subsidy providers, or to return the property back to its original motel use. Located just minutes away from West Adams and Culver City, both investors and tenants are able to take advantage of the ever-improving amenities within the neighborhood, including but not limited to local coffee shops, breweries, restaurants, employment hubs, art galleries, and more! Buyer shall complete their own due diligence to determine the current legal use, tenancies, legal amount of units, and all aspects relating to the property. For more information please contact the listing broker.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-18T13:31:38.647. 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 or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
www.playavistaliving.com/homes/144437173
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5134 W Washington Boulevard Los Angeles (City), CA 90016

  • Price: $1,999,000
  • Status: Active Under Contract
  • On Site: 245 Days
  • Updated: 122 min ago
  • ID#: 23322219
14
Beds
0
Baths
0
½ Baths
0.19
Acres
3,526
SQFT
$567
$/SQFT
1945
Built
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
Property Description
4th Price Reduction! We are pleased to present a 14-unit motel currently operating as an apartment building located along the trending Washington Blvd corridor. With 4 existing vacancies and a projected 7.98% CAP upon leasing of the vacancies, there is immediate opportunity for an operator to renovate and add-value while working with the existing tenants (majority of which are transitional housing) that are currently receiving subsidies up to $1,660 per month! The majority of units compose of bachelor style layouts (no kitchen), with 1 one bedroom unit (stand-alone structure), and 1 two bedroom unit (previous motel office). With 3,526sf of building located on 8,123sf of land, the property is well positioned for a local operator to continue relationships with the existing subsidy providers, or to return the property back to its original motel use. Located just minutes away from West Adams and Culver City, both investors and tenants are able to take advantage of the ever-improving amenities within the neighborhood, including but not limited to local coffee shops, breweries, restaurants, employment hubs, art galleries, and more! Buyer shall complete their own due diligence to determine the current legal use, tenancies, legal amount of units, and all aspects relating to the property. For more information please contact the listing broker.
Exterior Features

Parking Features Uncovered Parking Total 7

Property Features

Association YN No Cap Rate 7.98 Gross Income 254712 Levels One Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 159496 New Construction YN No Senior Community YN No Special Listing Conditions Real Estate Owned Zoning LAC2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-18T13:31:38.647. 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 or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
 
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Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Casey Lins of Kidder Mathews of California, Inc. (858-369-3010)