Exclusive Listings

Eagle Rock 12 Unit Value Add Opportunity, with Parking on Colorado

Address:
1823 Colorado Blvd
Los Angeles, CA 90041
Price:
$2,288,000
Status:
In-Contract
Type:
Apartment
# Units:
12
Year Built:
1920
Building Size:
6,412
Lot Size:
12,132
CAP Rate:
4.08%
GRM:
14.96x
Price/Unit:
$190,700
Price/SqFt:
$357

HIGHLIGHTS

  • Great Eagle Rock Location on Colorado!
  • Value Add Opportunity
  • 1920’s Charm with Parking
  • Diverse Unit mix with 6 Singles, 5- 1/1’s, and 1- 2/1’s.
  • Attractive Price Per Unit
  • Significant rental upside- 66% +/- Below Market
  • Individually metered for Electricity/ Master Metered for Gas
  • Walkable location. Close Proximity to all the Restaurants, Stores, Coffee Shops, and Bars!


EXECUTIVE SUMMARY

The Growth Investment Group is pleased to present this 12 Unit Value Add opportunity in Eagle Rock. The property is in a great Eagle Rock location, on Colorado Blvd, within walking distance to shops, restaurants, and nightlife located adjacent to one of the nicest residential neighborhoods in the area. The Colorado Apartments have the 1920’s charm, as well as parking for all units. Eagle Rock is a strong rental market with high demand for rental units in the area, and 66% +/- upside in rents for the next owner. Properties like this don’t come up very often, as Eagle Rock has many long term owners, giving a high barrier to entry in a market that sees minimal multi-family transactions per year. There is currently one vacant, allowing the next owner to take the unit to market rent. This building is individually metered for Electricity, and has a nice unit mix/ count making it a great addition to all sized Multi-family portfolios.

Marketing Files


Due Diligence


Broker Contact

Justin McCardle
Direct: (909) 486-2069
justin@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
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