137 La Fayette Park Place, Los Angeles
Los Angeles Home For Sale
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.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90057
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- MLS® #:
- 24397453
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- Bedrooms:
- 1
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- Bathrooms:
- 2
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- Square Ft:
- 10,340
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- Lot Size:
- 0.25
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- Levels:
- Multi/Split
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- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of July 14th, 2024 at 7:40pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.