417 S. Rampart Blvd

30 Unit Multifamily Offering

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Property

The Asset

Units

Year Built

Lot SF

Gross Sf

Stories

Metering

Summary

30

1924

14,583

8,410

3

Individual Electric

 

SNAPSHOT

Value-Add Upgrade Potential

Transit

Oriented

Strong Area

Employment

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Overview

Value-Add Unit Upgrade Potential

The asset offers residents the ability to live and work 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 premium above neighboring apartment stock.

Value-Add Building Enhancement Potential

The property provides approx. 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 Sixteen (16) of the Thirty (30) apartment units with a variation of renovation and updating.  Most units come with their own refrigerator and stove and an upgraded kitchen.

 

The Opportunity

The asset offers the astute investor a significant value-add opportunity to increase income drivers through additional unit upgrades as units turn through natural attrition.  Additionally, common area enhancements/renovations within the lobby, hallways, elevator and stairwells will provide additional steps toward higher rental rates and/or resident retention. Lastly, the offering is an ideal candidate for a RUBS (Ratio Utility Billing System) platform allowing utility expenses to be passed on to residents.

Los Angeles city at night. Long exposure shot of blurred bus speeding through iconic 6th S
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RICH JOHNS

KW Commercial - Multifamily Advisor

818.432.1575

Richjohns@kw.com

CalBRE Lic#01432215

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NICK ASTRUPGAARD

KW Commercial - Multifamily Advisor

818.432.1580

nastrupgaard@kw.com

CalBRE Lic #01893466

 
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