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Multifamily

West Adams Lofts

2822 S Redondo Blvd, Los Angeles, CA 90016

Listing Price: $2,995,000

Cap Rate
5.04%
Number of Units
9
Occupancy
100.0%
Price/Unit
$332,778
Price/Gross SF
$599.00
Gross SF
5,000

Investment Overview

Comprised of 8 one bedroom and one-bathroom units plus a stand-alone 2+2 house, 2822 S. Redondo Boulevard is truly a jewel box investment property with the high-end modern touches only before seen in multi-million homes. Situated on a 6,900 SF lot, 2822 S. Redondo features 9 completely remodeled units outfitted with the best of everything, catering to renters looking for a high-quality apartment lacking for nothing. Units all feature in-unit washer dryers, A/C, high ceilings, kitchens outfitted with Bertazzoni appliances, recessed lighting and Carrera marble backsplashes. The property boasts an excellent return of a 14.8 GRM and a 5.04% cap rate with in-place income and expenses, creating an opportunity to real cash flow from day one. The one bedrooms, which are fully leased out, rents range from $1,650-$1,790, leaving future upside as they were rented during the Covid-19 pandemic of 2020. The 2+2 house which boast high ceilings, in-unit washer/dryer, A/C, recessed lighting, Bertazzoni appliances will easily rent for the projected rent of $2,950 and can be pre-leased or could make for an excellent owner/user opportunity. Tenants as well as investors are drawn to these type of modern, high-end finishes found at West Adams Lofts, making this property the newly built home of their dreams. The West Adams lofts boasts new modern touches throughout, from wide plank flooring, high ceilings, flat panel skylights, and recessed LED lighting, to each unit coming included with their very own euro-style washer/dryer, and a/c units throughout.. The bedroom is large enough for a queen sized bed with two nightstands, and includes a closet. The bathroom boasts high end fixtures, and features a Duravit deep soaking tub and rain shower. Perfectly located in prime West Adams neighborhood, just off of Jefferson & S La Brea, the West Adams lofts are situated right in the middle of the area’s up and coming gallery and dining scene.

Investment Highlights

  • 8 One Bedrooms and One 2+2 House Featuring High Ceilings, Skylights, W/D, Parking
  • Updated Plumbing and Electrical
  • New Windows
  • 4 Units with Private Yard (Including Detached House)
  • Washer/Dryers in Unit
  • A/C in Units
  • Separately Metered for Gas and Electric
  • Gross Annual Income of Over $202,000

Exclusively Listed By

Financing By

Listing Price: $2,995,000

Cap Rate
5.04%
Number of Units
9
Occupancy
100.0%
Price/Unit
$332,778
Price/Gross SF
$599.00
Gross SF
5,000

Investment Highlights

  • 8 One Bedrooms and One 2+2 House Featuring High Ceilings, Skylights, W/D, Parking
  • Updated Plumbing and Electrical
  • New Windows
  • 4 Units with Private Yard (Including Detached House)
  • Washer/Dryers in Unit
  • A/C in Units
  • Separately Metered for Gas and Electric
  • Gross Annual Income of Over $202,000

Investment Overview

Comprised of 8 one bedroom and one-bathroom units plus a stand-alone 2+2 house, 2822 S. Redondo Boulevard is truly a jewel box investment property with the high-end modern touches only before seen in multi-million homes. Situated on a 6,900 SF lot, 2822 S. Redondo features 9 completely remodeled units outfitted with the best of everything, catering to renters looking for a high-quality apartment lacking for nothing. Units all feature in-unit washer dryers, A/C, high ceilings, kitchens outfitted with Bertazzoni appliances, recessed lighting and Carrera marble backsplashes. The property boasts an excellent return of a 14.8 GRM and a 5.04% cap rate with in-place income and expenses, creating an opportunity to real cash flow from day one. The one bedrooms, which are fully leased out, rents range from $1,650-$1,790, leaving future upside as they were rented during the Covid-19 pandemic of 2020. The 2+2 house which boast high ceilings, in-unit washer/dryer, A/C, recessed lighting, Bertazzoni appliances will easily rent for the projected rent of $2,950 and can be pre-leased or could make for an excellent owner/user opportunity. Tenants as well as investors are drawn to these type of modern, high-end finishes found at West Adams Lofts, making this property the newly built home of their dreams. The West Adams lofts boasts new modern touches throughout, from wide plank flooring, high ceilings, flat panel skylights, and recessed LED lighting, to each unit coming included with their very own euro-style washer/dryer, and a/c units throughout.. The bedroom is large enough for a queen sized bed with two nightstands, and includes a closet. The bathroom boasts high end fixtures, and features a Duravit deep soaking tub and rain shower. Perfectly located in prime West Adams neighborhood, just off of Jefferson & S La Brea, the West Adams lofts are situated right in the middle of the area’s up and coming gallery and dining scene.

Exclusively Listed By

Financing By

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