2005 Talmadge Street

Description

$1,000,000 PRICE REDUCTION IF CLOSED BEFORE APRIL 1st 2023 | 16-Unit apartment community located in the Los Feliz sub-market. Unique opportunity to acquire a stable asset in a premier Los Angeles rental market with meaningful long-term capital appreciation. Located on the corner of Finley Avenue and Talmadge Street and featuring an ideal unit composition of Fourteen (14) One-Bedroom | One-Bathroom units and Two (2) Two-Bedroom | One-Bathroom units. Units are accessed through a quiet and open-air courtyard. In all, 2005 Talmadge Street boasts 10,826 SF of improvements on a 13,482 SF lot, zoned LAR2. The property is fully parked with a total of 16 spaces. Los Feliz commands rents comparable to many Westside and beach communities. Property is a short distance to coffee shops and dining options and a short drive from the City's primary employers in Hollywood and Downtown Los Angeles. In 2019 - 2020, ownership conducted a complete interior make-over of 8 of the 16 units including updated bathrooms and kitchens, modern countertops and tilework, new attractive flooring, mini-splits air conditioning units in living rooms and bedrooms, and in-unit washers/dryers. Additionally, the mandatory soft-story retro-fit was fully completed, and the Certificate of Compliance was issued in 2022 and a new electrical system 2005 Talmadge Street also features a common area laundry room and central boiler. Gas and electrical utilities are separately metered. | $1,000,000 PRICE REDUCTION (off List Price of $6,450,000) IF CLOSED BEFORE APRIL 1st 2023