Property Details


Year Built: 1910
Units: 24 Apartments, 1 Retail, 2 Offices
Price / Unit: $240,625
Price / SqFt: $300
CAP: 4.65%
GRM: 12.78

Executive Summary


INVESTMENT HIGHLIGHTS:
  • 1425 W 7th Street is a 19,260 SF apartment building with retail & office located in the heart of Westlake, located on the northeast corner of 7th & Valencia directly across the street from John Liechty Middle School; a location less than a mile to Downtown Los Angeles that is surrounded by new developments, employment and education opportunities that contribute to significant rent growth year-over-year in this rapidly gentrifying neighborhood
  • Consisting of 24 apartment units, a 1,150 SF retail space, and an 2,300 SF turnkey office, 1425 W 7th Street has been meticulously renovated and maintained throughout the years and presents a perfect owner user or investment opportunity with stabilized cash flow in the apartment rents and additional upside in the office & retail; the property also features a 700 SF space that can be converted to additional office space or possible short term rental unit
  • The 2,300 SF office with access from 7th Street has been owner occupied for several years and fully built out to be delivered as a turnkey office space for an owner user; the unit includes a full kitchen with gas stove, oven, refrigerator, cabinetry and dining area; there are two fully renovated bathrooms including showers; the office space includes a conference room, open work space and multiple private offices; there is an additional large basement that can be utilized for storage
  • The retail space located on the hard corner of Valencia & 7th is currently leased at below market rent on a month-to-month basis to a convenience store operator
  • Unit 1425 B has direct, secure access from Valencia St and totals 700 SF; currently used for storage, the space presents the opportunity to renovate and utilize as office or a short-term rental for additional income that can be utilized for storage
  • Since 2003, the subject property has had extensive capital expenditures including new copper plumbing, a new sewer drain system, copper wire electrical system, a new flat roof, and windows throughout
  • Utilities are low as gas and electricity are separately metered; in the basement, there is on-site laundry with three washers and dryers; trash is located at the rear of the property secured by an enclosure with key access
  • Opportunity to acquire a turnkey asset with ease of management and strong current cash flow in apartment rents; substantial upside of over 68% in the retail and office rents
  • Ideal for an owner user to operate a business from the office space and collect passive income from the apartment and retail tenants with little renovation needed
  • Westlake is the second-most dense neighborhood in Los Angeles County, according to the Los Angeles Times; its rental market continues to thrive as it is in the center of high-growth neighborhoods such as Pico-Union, Koreatown, Echo Park and Downtown Los Angeles

Interested In This Property?

Fill out the form below to learn more.

  • This field is for validation purposes and should be left unchanged.