1807 Purdue Ave, Los Angeles, CA 90025

Property Description

Rare opportunity to acquire a 10-unit multifamily property in West Los Angeles offering an attractive 5%+ going-in cap rate, strong in-place income, and meaningful future value-add potential.The property consists of eight 1-bedroom units and two studio/single units, providing a desirable and highly rentable unit mix in one of Los Angeles' strongest Westside rental markets. A major investment highlight is the property's eight tandem parking spaces, which may provide an opportunity to add Accessory Dwelling Units (ADUs) and increase the property's unit count and rental income, subject to applicable City of Los Angeles requirements, feasibility, and approvals.The property also benefits from several significant completed capital and compliance improvements, including earthquake/seismic retrofit work, balcony inspections, and electrical upgrades. These completed items may reduce near-term capital expenditure requirements and provide added confidence to an investor evaluating the property's condition and future operating needs.Located near Sawtelle, Brentwood, Westwood, and Santa Monica, 1807 Purdue Avenue benefits from excellent access to employment centers, dining, shopping, transportation, and Westside amenities.This offering provides investors with the opportunity to acquire a well-located West Los Angeles apartment asset with immediate cash flow, a 5%+ cap rate, completed major property improvements, and additional long-term upside through potential ADU development and future rent growth.