129-131 N Rampart Blvd

03-08-2022
06-06-2022

129 N Rampart Blvd, Los Angeles, CA 90026

Property Description

Rare opportunity to acquire a charming 1920's character property with meaningful upside in the 90026 zip code and within a clear path-of-progress location.
Featuring 2 separate structures, this wood frame constructed apartment community encompasses 5,781 SF of improvements and features an over-sized unit composition of Five (5) One Bed | One Bath and Four (4) Large Single | One Bath apartment units. Units are larger in size relative to competing units in the area.
129-131 North Rampart Blvd. offers residents a boutique living experience while being centrally located in one of the most engaging and diverse neighborhoods in LA. As a result of this very high demand locale, the current management experiences vacancies that fill rapidly and rents that have increased at a premium above neighboring apartment stock.
The property provides more than a 20% rental upside potential making this an ideal investment for the astute investor looking for long term rent appreciation and consistent cash flow.
In recent years, current ownership has updated Five (5) of the Nine (9) apartment units with a variation of renovation and updating. Most units come with their own refrigerator and stove and an upgraded kitchen. Flooring varies by unit with hardwood, Saltillo, or tile. Bathrooms feature tile flooring and shower/bath
enclosures.
The 90026 zip code and this building have experienced a rapid growth pattern due to the Silverlake and Echo Park demo’s spreading toward the south and east. The
offering provides a significant value-add opportunity as current rents are below market.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 2,320,000
No. of Units
9
Year Built
1928
Building Size
5,781 Sq ft
Lot Size
6809 sq ft
No. of Stories
2
APN
5156-028-016
Zoning Code
LAR3
Opportunity Zone
No
Price per unit
$ 257,778
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34.070391, -118.276592

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