919 South Prairie Avenue
Multifamily | 50 Units | $238,000/unit
Marketing description
This offering presents the opportunity to purchase a unique, truly turnkey asset that has been meticulously owner-operated, featuring an extensive $2MM remodel in one of the most rapidly developing sub-sectors of Los Angeles. Property may be purchased with an assumable loan with a balance of $2.8MM and an interest rate of 3.75% through 2030.
Fully remodeled 50-Unit multifamily building comprising of 2x 1-bedroom apartments and 48x large and uniquely laid out studios with full-sized kitchen areas, full closets and bathrooms located directly in front of Sofi Stadium and the 300-Acre, $10 Billion dollar mega development! This asset has experienced extreme rental demand, and is located directly on the rapidly developing Prairie avenue in front of Sofi Stadium, thus suitable for potential future short-term use or redevelopment.
PLEASE CONTACT OWNER DIRECTLY VIA PHONE OR E-MAIL FOR INQUIRIES
Investment highlights
Fully remodeled 50-Unit multifamily building comprising of 2x 1-bedroom apartments and 48x large and uniquely laid out studios that resemble 1-bedrooms, all with separate rooms with full-sized kitchens, closets and bathrooms located directly in front of Sofi Stadium and the 300-Acre, $10 Billion dollar Hollywood Park mega-development!
- Assumable $2.8MM 3.75% interest rate loan fixed through 2030 and seller financing available in second position
-An extensive top to bottom $2MM remodel undertaken in 2021
- $350K plumbing remodel. All new copper plumbing from city meter back, including new individual unit shutoffs for all units, new shower valves for all units, news toilets & tubs for all news, new boiler, all new traps for all units and new sewer horizontals
-Every windows in building replaced to double-paned, tempered vinyl windows
-Full building new stucco and paint, Santa Barbara smooth-finish stucco in front
-New controlled access car & pedestrian gates
- 24/7 night-vision wifi camera system throughout
-47 of 50 units fully remodeled with new quartz countertop and real plywood cabinet kitchens, LVP flooring, stainless steel double sinks, new tile and tubs, new fixtures, outlets, baseboards, paint!
- Exterior includes new mailboxes, light fixtures, landscaping, deck refresh throughout
-All units fully wired internally with Spectrum CAT 6 wiring, offering revenue share income to owner and high speed internet for tenants to pay for without any external wiring!
-Full onsite laundry with only mobile phone pay
-50 parking spaces, fully gated and covered
-Extreme rent demand. Operating at nearly 0% historical vacancy with waitlist and low delinquency rates. Strong rent roll with qualified tenants
-Prime location directly on the transforming and high vehicle per day Prairie Avenue. Located directly across from Sofi Stadium/Hollywood Park $10 Billion mega development, including 900,000 sq. ft. of luxury retail. Located near Intuit Dome, the Forum, Downtown Inglewood, and LAX/Hawthorne Airports
PLEASE CONTACT OWNER DIRECTLY VIA PHONE OR E-MAIL FOR INQUIRIES
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