11818 Gateway Blvd, Los Angeles, CA 90064

Property Description

TRUST SALE - BUYER DIDN'T PERFORM. BRING ALL OFFERS...REDUCED OVER $500,000 AND SELLER VERY MOTIVATED TO SELL! Rare opportunity to purchase a classic Mid-century styled 15- unit apartment building built in 1958. The Gateway is a 2-story, walk up set back from street for maximum privacy. It is situated on a 10,380 s.f. lot with great curb appeal. Unit combination includes studios, 1 bedrooms, 2-bedrooms and a 3 bedroom owners unit, a lush courtyard and carport parking to the rear. The 3 bedroom “owners” unit is comprised of a combination of 2 apartments created as one, that is upgraded with Viking range, crown moldings and granite counters, as well as full size laundry in unit that would be delivered vacant, and is valued at over $4,500 per month for our proforma. Sellers have had this in their family for generations and have maintained the old world charm, creating a true value add opportunity with tremendous upside in rents. Laundry room on site. The property offers location location location as it sits equidistant to the major employment centers of Century City, Westwood, Culver City and Santa Monica, just off the 405 Freeway in West L.A. TRUST SALE and property is being sold with no conditions or contingencies.