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1846 CORDOVA Street, Los Angeles, California

$1,560,000Active

Property Details

1846 CORDOVA Street, Los Angeles, California 90007 - Pleased to present for sale an eight-unit apartment building. The two-story property features eight two-bedroom/one-bath apartments with ample gated parking. All units are separately metered for gas and electricity. The 1959 constructed asset represents a true value-add opportunity with tremendous upside in a dense rental market. The Cordova Apartments offer a savvy investor approximately 91 percent upside in rental income via interior and common area renovations and capturing the in-place loss-to-lease. The subject property is located in the Pico-Union neighborhood of Los Angeles, which was designated as an economic Promise Zone by President Obama in January 2014. With a Walk Score of 80, tenants can accomplish most errands on foot, which is extremely attractive to millennial renters. Moreover, Downtown Los Angeles is on the verge of becoming one of the world's foremost tourist attractions, with major developments occurring in the luxury residential (for sale and for rent), offic

Amenities

  • Zip90007
  • CountyLos Angeles
  • StatusActive
  • Purchase TypeActive
  • Property typeMulti-Family
  • Zoning typeLAR3
  • Year built1959
  • CoolingSee Remarks
  • ParkingParking Space
  • MLS® ID17277986

Listing Courtesy of Maurius Jeffery~Marcus & Millichap

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“Ann Shumbo is by far the most talented, dedicated, and thoughtful real estate agent with whom we have had the pleasure of working in 35+ years. Her knowledge of the real estate market, stellar communication skills, and willingness to "go the extra mile" made the sale of our home as easy and painless as possible. We loved working with Ann and highly recommend her to anyone who is buying or selling a home in Southern California. In short, Ann is truly "the best in the biz."”

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