974 Kensington is a 10-Unit apartment building located in the historic Angelino Heights neighborhood, just steps from the main drag of Echo Park. The property is located on a quiet street in Angelino Heights adjacent to Echo Park and Dodger Stadium.Easy commute to Downtown LA, Hollywood and the Miracle Mile. Close to shopping, restaurants and entertainment. Vintage 60’s vibe and design with solid wood cabinets, wall heaters and individual wall A/C units. Building is well maintained but retains the original 60’s ambiance. After selling our Client’s commercial property, our client was looking for a more stable investment and we 1031 exchanged the proceeds into this winner. The decent in-place income provides our client with a 5%+ CAP Rate, with major upside potential through renovations as the units turn, are renovated, and brought to market rents. The first-floor units will have mini private patios and the second-floor units deliver killer views of the Hollywood Hills. And the icing on this stucco cake . . . room for an ADU! Once the property is optimized by our property management team, Figure 8 PM, and our in-house construction company, The Fix, the market value will be double the price of our client’s purchase price.
Multi-Unit (5+), Residential
9,377 Sq. Ft.
9,377 Sq. Ft.
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