7 unit professionally managed trophy asset located in the heart of highly desirable Larchmont. Just 2 blocks from Paramount Studios, and less than half a mile to Hancock Park and Wilshire Country Club! Fully restored and turn-key building that will run with low maintenance/repairs and upkeep while having in-place market rate tenants on Day 1. All units were fully remodeled and installed brand new bathrooms, kitchens, AC units, in-unit washer & dryers, appliances, flooring, countertops, cabinets, shower tiling, light fixtures, windows, doors & molding, paint, vanities and much more! Great unit mix of: (4) Large 2 Bed/1.5 Bath Two Story Townhomes, (1) 1 Bed/1 Bath, & (2) Studios. All units have reserved on-site parking in the back which is high value for a thinly parked neighborhood. The entire electrical service (main panel, meters and subpanels) was replaced in 2024 and done with permits. New roof installed in 2023, and the building has 100% copper plumbing throughout. EQ retrofit completed in 2023, and all gas meters have EQ shut off valves installed already. Separately metered for gas & electricity, and all units are on RUBS for water, sewer and trash for utility reimbursements to help keep operating costs down and NOI high for great cash flow. Exterior of building received all new paint, new landscaping, new fencing, new lighting, and more! 5.37% cap rate on current rents and 2024 expenses (including new & updated tax rate & assessments based on list price and vacancy reserves -- although 100% occupied).
