Courtesy of: Austin Longwell, West Shores Realty, Inc., ALEstateInvestments@gmail.com
Courtesy of: Austin Longwell, West Shores Realty, Inc., ALEstateInvestments@gmail.com
$1,250,000
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10 bed
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8.00 Bath (8 Full)
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Lot: 0.22 Acres
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Apartment
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$1,250,000
375 Leslie ustin Longwell of West Shores Realty is pleased to present 375 Leslie Way, a 6-unit apartment community in the rapidly growing Highland Park sub-market of Los Angeles. Offered at $1, 250, 000 ($208, 333 per unit, $233.04 per sq ), the property gives investors in-place income and significant rent upside.Built in 1965, the property has approximately 5, 364 sq of building area on a 9, 568 sq lot. The uniteemix is all two-bedrooms, four 2 bed + 1.5 bath units and two 2 bed + 1 bath units, which is highly desirable for Highland Park renters. The oversized lot provides ample parking, a rare feature in theeeneighborhood, as well as potential for ADU expansion. Tenants pay gas and electric. The property is currently operating at a 5.86% cap rate and 11.26 GRM. Current rents range from $1, 025 to$1, 920, compared with projected market rents of $2, 500 for the 2+1.5s and $2, 300 for the 2+1s. Ateemarket rents, net operating income grows from $73, 217 to an estimated $138, 340, a 11.07% capeerate and 6.99 GRM.375 Leslie Way has a Walk Score of 81 and is within walking distance of some of Highland Park'seemost popular shopping and dining. The neighborhood's continued growth, and strong rental demand make this a compelling opportunity to add value in one of Northeast Los Angeles's most sought-after submarkets.
Courtesy of: Austin Longwell, West Shores Realty, Inc., ALEstateInvestments@gmail.com
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