MUST SEE PROPERTY: 56 Units Near The Grove

There’s no doubt that COVID has created a chaotic market, although some assets are proving resilient, namely class A multifamily.

This 56-unit property located near the Grove in Los Angeles has weathered the storm. Owned by the same private partnership for decades, the property has been well-maintained and leased below market value.

The building features a pool elevated about street-level, fully renovated common areas, exterior, and lobby. Units could be renovated and value can be created by adding new appliances and kitchen aesthetics.

The asset is available at an in-place 4% cap rate, and a market cap rate of over 6.5%.

To recieve the financial and schedule a visit, call Vernon Jones at 347.228.2374 or send an email to vjones@newmontis.com.