Description
I am pleased to offer the opportunity to acquire The Scarlett, an eight-unit renovated apartment community in Koreatown. Situated just North of Olympic Boulevard and West of Hoover Street, the subject property is located within one of Los Angeles' most desirable neighborhoods. Koreatown is one of the most widely publicized and energized communities in Los Angeles. The Scarlett consists of four one-bedroom den units and four two-bedroom units on a 6,750 square foot parcel. Current Ownership has extensively renovated six units and features thoughtful design details like Spanish tiles, high ceilings, marble countertops, state-of-the-art appliances, and more. Renovated units also include Split A/C-Heat system and washer and dryers and are achieving premiums over the average in-place rents. Additionally, the common area has been improved with new exterior paint and secured parking. This offering presents investors a rare buying opportunity to purchase a stabilized asset with six out eight units at market rents, providing passive income in a market that has shown consistent growth in population and rents year over year.
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12BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
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6,308SQFT
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$396$/SQFT
School Ratings & Info
Description
I am pleased to offer the opportunity to acquire The Scarlett, an eight-unit renovated apartment community in Koreatown. Situated just North of Olympic Boulevard and West of Hoover Street, the subject property is located within one of Los Angeles' most desirable neighborhoods. Koreatown is one of the most widely publicized and energized communities in Los Angeles. The Scarlett consists of four one-bedroom den units and four two-bedroom units on a 6,750 square foot parcel. Current Ownership has extensively renovated six units and features thoughtful design details like Spanish tiles, high ceilings, marble countertops, state-of-the-art appliances, and more. Renovated units also include Split A/C-Heat system and washer and dryers and are achieving premiums over the average in-place rents. Additionally, the common area has been improved with new exterior paint and secured parking. This offering presents investors a rare buying opportunity to purchase a stabilized asset with six out eight units at market rents, providing passive income in a market that has shown consistent growth in population and rents year over year.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.