8360 Blackburn Ave, Los Angeles, CA 90048

Property Description

We are pleased to present a seven (7) unit apartment building located at 8360 Blackburn Avenue in Los Angeles, California. The subject property is situated in a prime Beverly Grove location, south of West 3rd Street and east of La Cienega Boulevard. Beverly Grove was built primarily in the 1920's and has a combination of quiet charm and close proximity to shopping, restaurants, and museums. Half of Beverly Grove residents aged 25 and older possessed a four-year degree in 2000, a high rate for both the city and the county. The percentage of residents with a master's degree was also high. One of the more noticeable features of this submarket is the Beverly Center, opened in 1982, which has various designer stores and restaurants. The Beverly Center is also home to the Museum of Dream Space, which is known as the first museum mainly exhibiting digital art in the United States. This area is also known for its trendy, upscale dining with options within walking distance from the subject property such as Angler, Yardbird, Son of a Gun, Bari, Matsumoto, Lawry's Prime Rib, SHAN Social House, and N10 Restaurant. Built in 1955, this property contains a great unit mix of one (1) studio / one-bathroom unit, two (2) one-bedroom / one-bathroom units, two (2) two-bedroom / one-bathroom units, and two (2) two-bedroom / two-bathroom units. The building features backyard patio space, a large covered balcony, an on-site laundry room, and RTI plans to complete the soft-story retrofit all right across the street from a brand new ground-up co-living development. The units have hardwood floors, large windows, and lots of space. There is one (1) parking space available per bedroom for a total of ten (10) parking spaces. Residents will love living in a quiet residential pocket just down the street from upscale retail, restaurant, and entertainment amenities. Situated in a prime Beverly Grove location, this offering presents an excellent opportunity for any investor to capitalize on a strong rental upside potential in one of the most upscale submarkets of Los Angeles.