1214 S Lake St, Los Angeles, CA 90006

Built in 1914, this 37-unit property is located in the Westlake neighborhood just north of S Alvarado Street between 11th St and Pico Blvd, providing easy access to the 10 & 110 Freeways, Downtown Los Angeles and Koreatown. The subject property totals 20,460 SF featuring a unit mix that includes 25 singles, 11 one-bedrooms and one one-bedroom plus den. The majority of rents are currently under-market, providing a true value-add opportunity to capture the 50% rental upside through an interior renovation program when units turn.Furthermore, the basement features hookups allowing an investor to install community laundry for additional income. At the asking price, the property is being offered for a low $148,649 per unit and $269 per square foot.1214 S Lake St has been well-maintained by ownership with recent capital expenditures over the last four years including common area flooring and paint, new security camera system and intercom, exterior trim paint... etc