143 Reno St, Los Angeles, CA 90026
16 Unit Apartment Building | $2,400,000 ($150,000/Unit) | 3.29% Cap Rate | Los Angeles, CA 90026
For Sale
Active
Asking Price $2,400,000
- Property Type
-
Multifamily
- Square Feet
- 9,240 SF
Listing Contacts
Steve Bogoyevac
David O'Keefe
- Property Info
Property Overview
Marcus & Millichap is pleased to present to market 143 North Reno Street in Los Angeles’ popular Westlake neighborhood. On market for the first time in 25 years, this offering is an excellent opportunity to reposition a pride-of-ownership asset and capture 54 percent rental upside.
143 North Reno Street is a well-maintained, Spanish-style 1927 construction with 13 studios and three one-bedroom/one-bath units. The building also offers on-site laundry.
The property’s Westlake location offers easy access to world-class entertainment, dining and retail, and convenient proximity to the 101 Freeway and Downtown Los Angeles. This rental submarket’s strong performance is demonstrated by the new Arancia apartment building, just half a block from the subject property, where studios are achieving rents of up to $2,300 per month and one-bedrooms are achieving $3,050.00 per month.
143 North Reno Street is offered for sale exclusively upon buyer’s use of seller financing; terms to be negotiated. Please contact listing agent for details.
143 North Reno Street is a well-maintained, Spanish-style 1927 construction with 13 studios and three one-bedroom/one-bath units. The building also offers on-site laundry.
The property’s Westlake location offers easy access to world-class entertainment, dining and retail, and convenient proximity to the 101 Freeway and Downtown Los Angeles. This rental submarket’s strong performance is demonstrated by the new Arancia apartment building, just half a block from the subject property, where studios are achieving rents of up to $2,300 per month and one-bedrooms are achieving $3,050.00 per month.
143 North Reno Street is offered for sale exclusively upon buyer’s use of seller financing; terms to be negotiated. Please contact listing agent for details.
Property Details
- Class
- C
- Year Built
- 1927
- Stories
- 2
- Lot Size (sq. ft)
- 6,098 SF
- Units
- 16
Highlights
- Pride-of-ownership 16-unit apartment building in Los Angeles’ popular Westlake neighborhood
- First time on market in 25 years
- Potential to capture 54 percent rental upside
- Building offers 13 studios, three one-bedroom units, and on-site laundry
- 143 North Reno Street is offered for sale exclusively upon buyer’s use of seller financing; terms to be negotiated. Contact listing agent for details
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