1532 S Wilton Pl, Los Angeles, CA 90019

Property Description

Here is a great opportunity to own a right size 14-unit apartment, which is large but not subject to having a resident manager. It is located on the east side of Arlington Heights, only 3 miles from Downtown LA. All 14 units are 2-beds/1-bath with 14 on-site parking spaces. Total building sqft is 9,916 on a large 13,157sf lot. While hot and cold water and trash service is provided by the owner, each unit has its own electric and gas meters. The coin laundry service will provide additional small income. Currently fully occupied by good paying, stable tenants, 11 of whom have been for more than 10 years. The current CAP is just over 4.0%; however, the current rents seem to be well below the market rate. Do your own estimate of possible rent amounts under the LA rent control. The water main pipes from the meter to the buildings were replaced with copper pipe, and the flat roofs were replaced with ridged ones in 2015; the hallway decks were replaced in 2020. In 2020 Seismic Retrofit as per the City of LA was made and inspected/approved by the City.