Listed by Marcus & Millichap - South Bay
$1,929,999
143 N Reno St
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,240
Net Rentable (SqFt) 9,240
Units 16
Cap Rate 6.52%
NOI $125,879
Price per SqFt $209
Year Built 1927
Buildings 1
Lot Size (SqFt) 6,000
Multifamily | 16 Units | $120,625/unit
Marketing description
Marcus & Millichap is pleased to present to market 143 North Reno Street in Los Angeles’ popular Westlake neighborhood. Under the same ownership for 25 years, this offering is an excellent opportunity to reposition a pride-of-ownership asset and capture 44 percent rental upside.
143 North Reno Street is a well-maintained, Spanish-style 1927 construction with 13 studios and three one-bedroom/one-bath units. The building also offers on-site laundry.
The property’s Westlake location offers easy access to world-class entertainment, dining and retail, and convenient proximity to the 101 Freeway and Downtown Los Angeles.
Investment highlights
- Pride-of-ownership 16-unit apartment building in Los Angeles’ popular Westlake neighborhood
- Opportunity to capture 44 percent rental upside in a consistently strong rental submarket
- Building offers 13 studios, three one-bedroom units, and on-site laundry
Listing Contacts
Listed by Marcus & Millichap - South Bay
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$125,879.00
$10,489.92/mo
Valuation Metrics
0
DSCR
6.52%
Cap Rate
6.52%
ROI
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