Lucrum Real Estate Group is proud to present The Monarch, a beautiful multifamily investment opportunity located in the Westlake District, City of Los Angeles, California. This charming apartment complex is comprised of 20 spacious apartment units.
The building is constructed of wood frame with a flat/pitched roof and stucco exterior, as well as wood siding. The building’s construction was completed in 1923 and encompasses a total of +/- 12,008 building square feet situated on a parcel totaling ±8,091 square feet and zone LAR4.
The apartment units are spacious and consist of (4) one-bedroom + one-bath units, and (16) extremely roomy Studios + One Bath Units. Select units offer hardwood floors and air conditioning, as well as ample investor opportunity to upgrade the unit interiors. The property is separately metered for gas & electricity.
This is a great value-add opportunity for any investor looking to capitalize on marrying old-world charm with modern comforts, amenities, and appliances.
Also, given its 92 Transit Score and 91 Walk Score, the building is a perfect haven for pedestrian tenants and/or public transit for their daily commute.
There is tremendous upside in the current rental income, making The Monarch on 4th an incredible opportunity for an investor looking to acquire an asset with attractive current income with approximately 47% rental upside potential to realize.
Unit Mix:
(16) Singles + One Bath Units
(4) One-Bedroom + One-Bath Units
Property Highlights
+ Attractive value metrics of 5.41% Cap Rate | 10 GRM | $129,750 CPU
+ Solid day-1 cash flow and additional rental upside potential
+ Opportunity to implement Ratio Utility Billing System (RUBS) for additional income
+ Individually metered for gas and electric
+ Some units with hardwood floors
+ ~47% rental upside potential
+ Excellent value-add potential
+ 91 Walk Score & 92 Transit Score
+ Great candidate to capitalize on newly approved Section 8 housing voucher increases
+ Old-world charm & curb appeal
+ On-site laundry room
Once you schedule a call, you’ll have taken the first step to getting the representation you deserve.
