1711 Purdue Avenue, Los Angeles, CA 90025

About this property

Rare multi-family investment opportunity located at 1711 Purdue Avenue in the heart of LA's famed community of West Los Angeles. The subject property consists of 11 units and boasts a great unit mix consisting of (8) spacious 1-bedroom + 1 bath and (3) efficiency units. The building represents a quintessential value-add opportunity rarely available in such a prime location. Each of the units offers an abundance of rental upside. The size of the property is approximately 5,820 sq. ft. and the lot size is 8,456 sq. ft. that is zoned LAR3. Additional property features include on-site parking, an on-site laundry facility, and gated entry. The property still requires seismic work for its parking structure. Priced at a low $259,000 per unit and a 4.33 CAP rate, these value metrics are rarely seen on the Westside. A quick walk to high-end dining and nightlife, this rare offering presents an astute investor with the unique opportunity to capitalize on higher market rents in one of the best locations of the Westside.

Listing description from the May 2023 sale, as reported to CRMLS.

Sale history

$2,800,000

Sold May 2023 · listed $2,850,000, on market February 2023 · MLS #23241629 · Source: CRMLS

Listing Agent: Errol Spiro · Listing Office: Miller & Desatnik Realty Co. · Contact: 310-202-9166 · Bought with: Robert Renshaw · REMAX COMMERCIAL & INVESTMENT REALTY

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