511 S Rampart Boulevard

    Los Angeles (City), CA 90057
    • $4,870,000
    • STATUS: Active Under Contract
    • ON SITE: 133 days
    • ID#: 18373218
    Under Contract
    UPDATED: 218 min ago
    $4,870,000
    • 0
      BEDS
    • 0.29
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,036
      SQFT
    • $256
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    511 S. Rampart Boulevard, is a 36-unit apartment building located in the emerging Westlake submarket of Los Angeles. The Property is a well maintained stucco building originally constructed in 1924, that has undergone some exterior and interior capital improvements. The offering represents an ideal value-add investment opportunity with tremendous rental upside. The Property has a total unit mix of 1 bachelor, 27 studios, and 8 one bedroom one bath units. Current ownership has renovated 13 out of the 36 units with electrical and plumbing upgrades and luxury modern finishes. The Property is secured with gated access and common areas and hallways have been expertly renovated throughout. Exterior and building upgrades include a new roof, new stucco and exterior paint, new tile, lighting, and paint in lobby/halls, new drain lines, and new landscaping. The offering represents an opportunity to acquire a charming 1920's building in a rapidly changing and highly sought after neighborhood.

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    Based on information from CARETS as of 2018-12-18T23:46:54.19. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.scvnest.com/homes/86347792

    511 S Rampart Boulevard Los Angeles (City), CA 90057

    • Price: $4,870,000
    • Status: Active Under Contract
    • Updated: 218 min ago
    • ID#: 18373218
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.29
    Acres
    19,036
    SQFT
    $256
    $/SQFT
    1924
    Built
    Neighborhood:
    Downtown L.A. (C42)
    County:
    Los Angeles
    Area:
    Downtown L.A. (C42)
    Property Description
    511 S. Rampart Boulevard, is a 36-unit apartment building located in the emerging Westlake submarket of Los Angeles. The Property is a well maintained stucco building originally constructed in 1924, that has undergone some exterior and interior capital improvements. The offering represents an ideal value-add investment opportunity with tremendous rental upside. The Property has a total unit mix of 1 bachelor, 27 studios, and 8 one bedroom one bath units. Current ownership has renovated 13 out of the 36 units with electrical and plumbing upgrades and luxury modern finishes. The Property is secured with gated access and common areas and hallways have been expertly renovated throughout. Exterior and building upgrades include a new roof, new stucco and exterior paint, new tile, lighting, and paint in lobby/halls, new drain lines, and new landscaping. The offering represents an opportunity to acquire a charming 1920's building in a rapidly changing and highly sought after neighborhood.
    Exterior Features

    Parking Spaces Total 0 Parking Type On Street

    Interior Features

    Appliances Refrigerator Cooling Type Ceiling Fan(S)Wall Or Window Units Heating Type Wall Heater Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Partially Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 1.0 Unit Number Of Bed01 1

    Property Features

    Adjusted Gross Income 412887.00 Assessed Improvement Value 776665.00 Assessed Land Value 2071110.00 Cap Rate 4.50 Country United States Of America Expense Total Annual 181593.00 Gross Operating Income 400500.00 Gross Rent Multiplier 11.79 Hoa YN N Legal Disclosures Take Property As IsRent Control Lot Size Source Public Records Net Operating Income 218907.00 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Vendor Enhanced Unit Monthly Rent01 1166.00 Unit Monthly Rent02 873.00 Unit Monthly Rent03 811.00 Unit Projected Total Monthly Rent01 11160.00 Unit Projected Total Monthly Rent02 32265.00 Unit Projected Total Monthly Rent03 1100.00 Unit Total Monthly Rent01 9329.00 Unit Total Monthly Rent02 23567.00 Unit Total Monthly Rent03 811.00 Unit Type01 8 Unit Type02 27 Unit Type03 1 Units Total In Complex 36 Zoning Lar4

    Listing provided courtesy of Janet Neman DRE#01069127 of Charles Dunn West La.


    Based on information from CARETS as of 2018-12-18T23:46:54.19. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
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