Exceptional opportunity to own a boutique 15-unit multifamily building in one of the best, most central locations in Los Angeles. Well maintained under long-term legacy ownership and built in 1985 the property is uniquely exempt from the Los Angeles City Rent Stabilization Ordinance (RSO). Comprising approximately 10, 792 square feet of building area on a 6, 096 SF lot, the four-story structure offers a favorable unit mix consisting of 12 studio with one-bath units and 3 one-bed with one-bath units. 4 studios and 1 one-bed unit feature double height ceilings and additional loft space. This configuration is highly sought after by local professionals, singles and couples with prime location to Cedars-Sinai Medical Center and the Grove. Building amenities cater to a premium lifestyle, including gated, semi-subterranean assigned parking, secure access entry system, elevator, private balconies, on-site laundry and unbeatable walkability. The building is master metered for utilities; however, management has implemented a ratio utility billing system (RUBS) to reduce expenses. A diamond in the rough with tremendous upside and long term continued appreciation.
