Property Detail

Description

NEW CONSTRUCTION COMPLETED in 2024, NON RENT CONTROL, ±5.50% CAP Rate! ALL UNITS VACANT, Numbers are Proforma! 136 W 48th Street, a newly built luxury townhome-style apartment for sale. The property was completed in 2024 which made this asset exempt from Los Angeles RSO (rent control) and exempt from California AB1482 (rent control). The property was built with high-end finishes with future sustainability and ease of maintenance in mind: solar panels, artificial turf to reduce water consumption. It has a total of ±4,150 SF and is situated on a ±4,752 SF Lot. It offers superb curb appeal with modern finishings and townhouse style layout. These features would present an almost maintenance free asset for the next several years and minimum cost to operate on a NON-Rent Control building. All units have three levels with beautiful amenities, in-unit Washer-Dryer hookups, and a penthouse style master bedroom. The building consists of (3) 3 Bedrooms + 2.5 Bathrooms Units that are NOT UNDER Los Angeles Rent Stabilization Ordinance. Due to its recent construction, the three units are almost maintenance-free, considering the new roofs, plumbing, electrical, sewer lines, and amenities included. The property offers a large backyard with ample parking, including a 2-car garage. Buyers must do their due diligence regarding converting the garage into an ADU. Combining the strong CAP Rate of north of 5%, Non-Los Angeles Rent Stabilization Ordinance, and ease of maintenance, this offering is perfect for an experienced investor looking for solid & consistent cash flow with little to no maintenance. This property is in a high-density and in-demand area, providing rental growth for future vacancies. It is centrally located in a highly desirable location just minutes away from the home of LAFC, our city’s premier professional soccer team, USC, Crypto Arena, Home of the Lakers, Clippers, and LA Kings.) Expo Park and the Metro Green Line.