Description
Maher Commercial Realty is pleased to present this 8-unit apartment building in Country Club Park with a Walk Score of 84, close to Hancock Park, Koreatown and all the shopping and dining along Western Avenue. The subject property consists of eight one bedroom, one bath units of which two will be delivered vacant. Four of the units have been recently updated and include new paint, flooring, remodeled kitchens with stainless steel appliances, remodeled bathrooms, fresh exterior paint, copper plumbing and a new roof installed in 2017.
This property totals approximately 5,676 square feet on an approximately 9,313 square foot parcel of land zoned LAR3 Tier 3.
Arlington Heights encompasses an area of Historic West Adams that was, at the turn of the 20th century, outside of the Los Angeles city limits. It still has a remarkable concentration of intact American Foursquare, Craftsman and Spanish Colonial Revival homes. While Arlington Heights is largely residential, there are a growing number of shops, restaurants, cafes and art galleries that have been springing up along Washington Boulevard. Galleries like Rory Devine Fine Art, Harkawik, Kristina Kite Gallery and David Horvitz’s 7th Avenue Garden feature revolving contemporary art exhibitions that are slowly turning this strip into a local cultural destination. Nearby, you’ll find eateries like Surfas Culinary District, a specialty kitchenware shop with a popular Italian style deli, and Spaccio Salumeria, a high-end Italian deli and market. And with Koreatown just a few blocks away, you’ll have easy access to some of the best Korean cuisine in the city, whether you’re looking for bibimbap, barbecue or a hearty bowl of ox bone soup. Right next door to the library is Washington Irving Pocket Park, a small greenspace with a playground. You can also take in the sunshine at nearby Queen Anne Park and Recreation Center, a recently renovated community greenspace with a playground, tennis courts and picnicking area, or LA High Memorial Park, a small park with lots of tall trees and greenery. The neighborhood is just a few blocks away from an on-ramp for Interstate 10, making for an easy commute to nearby destinations, sports arenas and museums in downtown Los Angeles.
Property Features:
- List Price: $2,099,000
- Building Size: 5,676 Sq.Ft.
- Lot Size: 9,313 Sq.Ft.
- Price Per Sq.Ft. On Building: $369.80
- Unit Count: 8
- Unit Mix: 1 Bed/1 Bath
- Zoning: LAR3
- TOC: Tier 3
- Year Built: 1933
- APN: 5081-006-009
- GRM: 13.0
- Cap Rate: 5.9%
- Price Per Door: $262,375
