958 S Lake St
LOS ANGELES, 90006
12-Unit Multifamily Income Property in Westlake
1 BD / 1 BA
7,473 SF LAC2
PRICE PER SF
GROSS RENTAL INCOME
For a full financial breakdown, please browse the Offering Memorandum Package PDF by clicking below.
We are proud to present The Lake Apartments, a 7,473 SF 12-Unit apartment building situated on a corner lot just east of Hoover Street at the corner of Olympic Blvd and South Lake Street, in the bustling Westlake community. The building features 12 spacious 1 Bed/ 1 Bath units w/ private entrances and washer/dryer hookups, of approx. 1,000 square feet each in size. 9 units have been recently renovated with brand new kitchens & bathroom cabinets, paint and laminate wood flooring. All units are individually metered for gas and electric and each unit has a hot water heater. In addition to the impressive return, investors will notice increased gentrification occurring at a quick pace in Westlake/MacArthur Park as upscale real estate and commercial developments are increasingly popping up, heightening the desirability of the neighborhood.
*Billboard not included with purchase.
Laminate Wood Floors
Washer/Dryer Hookups per Unit, Ceiling Fans, Stainless Steel Appliances
9 Units Newly-Renovated, Large Units, New Blinds, New Paint, New Kitchen & Bathroom Cabinets
3 Car Private Lot
Undergoing revitalization, Westlake is a densely populated area centered on the historic MacArthur Park, with a newly renovated lake area and recreation center. The iconic Westlake Theatre sign presides over discount stores and delicious Latin eateries, while hip galleries and bars have sprung up as artists move in. In addition to the available hotspots within walking distance, renters will enjoy close proximity to all Downtown has to offer, just minutes away.
Four months have passed since crews conducted a $1.5 million improvement project to MacArthur Park with landscape and general park upgrades. The extensive landscape and general park improvements made include newly-planted trees & plants, sod, new irrigation system, linear piping, upgraded LED lighting, new asphalt walkways, repaved parking lot, newly-painted floors, games, park benches and planters.