West Blvd Apartments

 

6736-6800 West Blvd | Hyde Park, California | 90043

$2,875,000

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About

  • Two Separate Buildings on Two Separate Lots
  • Individually Metered for Electric and Gas
  • Spacious Units w/ Hardwood Floors
  • Strong Upside in Rents
  • Large 20,648 Sq. Ft. Lot
  • Centralized Location
  • On-Site Laundry

AGENTS


ADDITIONAL INFORMATION

For sale is a 24-unit late 1950’s style multi-family apartment building constructed in 1957. Tropicana Apartments is located a few blocks south of Hyde Park Blvd. and north of Florence Ave. in the historic Hyde Park neighborhood of Los Angeles, CA (southwest of downtown L.A.). Tropicana Apartments is a well maintained two-story complex with charming central courtyard on two separate APN Numbers. In an area with working professionals, students, and families alike, the property offers affordable neighborhood living within a centrally located community; great rental location, within minutes of LAX, USC, and the coast. The subject property is close to a multitude of parks, and great recreational facilities with Kenneth Hahn State Park and the newly revised Baldwin Hills Trail Head (also very scenic) — all within minutes. In an area that has recently seen increased investor activity, Tropicana Apartments is an excellent investment opportunity with exciting potential. Since January 2014, investor activity includes the construction of a mixed-used redeveloped Hollywood Park (238-acres) and the acquisition of 60-acres adjacent to the Hollywood Park that could potentially be used for an NFL stadium (Purchased by St. Louis Rams owner Stan Kroenke) or more likely the development of a new master-planned community. Additionally, The Forum just completed a fifty million dollar renovation that has already started to bring in big event entertainment such as the 2014 MTV VMAs, which just took place this August. The subject property consists of two identical buildings. The unit mix is composed of twenty bright & spacious 1+1s and four 2+2s. Onsite amenities include on-site laundry, ample parking at twenty plus spaces, and gated entry. The total rentable square footage is 17,122 with the lot size equal to 20,648 square feet. The building was recently repainted and has majority copper plumbing. This is a perfect 1031 replacement property if looking to exchange into high-quality apartment in a great location with greater potential.