137 S La Fayette Park Place, Los Angeles, CA 90057
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Listed Price :
$2,400,000
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Beds :
9
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Baths :
15
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Property Size :
10,340 sqft
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Year Built :
1950
Property Description
We are pleased to present for sale, the epitome of urban living in the Koreatown/Westlake submarket of Los Angeles. The La Fayette Garden Apartments is a 15-unit true-value add building rip for new ownership to renovate and reposition the asset to suit the surrounding area. This wide, tree lined street, is known to be a premier location with the many meticulously renovated buildings owned by some of the largest institutional investors. Owners on La Fayette has historically achieved significantly higher rents than other streets within this submarket because of its charm. La Fayette Gardens features a unit mix of 6 studios and 9 one bedroom/one bath units across +/- 10,340 square feet of improvements on a +/- 10,981 square foot lot. The property is listed at $160,000 per unit which far below what other properties in the area trade for. This gives a buyer cushion to execute their business plan of turning units, renovate and reposition, and the ability to achieve market rents. Other properties on La Fayette that benefit from extensive renovations proves that renters are willing to pay for a superior product on this premier street. The property has a rear parking lot with 12 individual spaces, is individually metered for electricity, master metered for water and sewer, and individually metered for gas (each unit has their own individual water heater). This is a true value-add opportunity with a low cost per unit and square foot, and the ability to add tremendous amount of value. Please contact listing agents for full offering memorandum.
Interior Features
| Bedroom Information |
| Bedrooms |
9 |
| Bathroom Information |
| Bathrooms |
15 |
Listing Information
| Address |
137 S La Fayette Park Place |
| City |
Los Angeles |
| State |
CA |
| Zip |
90057 |
| County |
Los Angeles |
| Listing Agent |
Adam Zunder DRE #01821053 |
| Courtesy Of |
Iconic Investments |
| List Price |
$2,400,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
10,340 |
| Lot Size |
10,984 |
| Year Built |
1950 |
Listing information courtesy of: Adam Zunder, Iconic Investments. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:46 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
