1231 Bundy Dr, Los Angeles, CA 90025
16 Unit Apartment Building | $6,750,000 ($421,875/Unit) | 5% Cap Rate | Los Angeles, CA 90025
For Sale
Active
Asking Price $6,750,000
- Property Type
-
Multifamily
- Square Feet
- 13,907 SF
Listing Contacts
Kevin Green
Joseph Grabiec
Property Overview
Institutional Property Advisors (“IPA”), as the exclusive listing agent, is pleased to present the opportunity to acquire Beau on Bundy (the “Property”), a 16-unit multifamily community located in the affluent West Los Angeles submarket.
Originally constructed in 1970, current ownership has spent $775,000 on capital expenditures to completely transform the property. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward.
12 of the 16 unit interiors (75%) have been extensively renovated, including new cabinetry, new stainless-steel appliances, plank vinyl flooring, quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, upgraded plumbing fixtures and in-unit washers and dryers. Investors will have the opportunity to follow this proven interior renovation strategy in the remaining 4 units (25%) and capture 12%+ upside in rental income.
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TOURS AVAILABLE UPON REQUEST
IPA is offering this Property as part of the 5-property, 92 unit Vive LA² Portfolio of assets. Properties may be purchased on an individual, multi-property, or complete portfolio basis. Property tours are available during the following time slots on the following dates upon request.
All tour requests must be scheduled by contacting either Kevin Green ([email protected]) or Joe Grabiec ([email protected]) to reserve and confirm your spot.
Tour Dates:
Wednesday, July 17th
Tuesday, July 23rd
Time Slots by Property Available on Tour Dates:
Ethan on Evans; 22 Units; 3804 Evans St W (Silver Lake) 9:00am to 9:30am
Callie on Curson; 20 Units; 1300-1308 N Curson Ave (Hollywood) 10:00am to 10:30am
Sage on Sweetzer; 16 Units; 1265 N Sweetzer Ave (West Hollywood) 10:45 to 11:15am
Dean on DeLongpre; 18 Units; 8450 DeLongpre Ave (West Hollywood) 11:15am to 11:45am
Beau on Bundy; 16 Units; 1231 S Bundy Dr (West LA) 12:30pm to 1:00pm
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Originally constructed in 1970, current ownership has spent $775,000 on capital expenditures to completely transform the property. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward.
12 of the 16 unit interiors (75%) have been extensively renovated, including new cabinetry, new stainless-steel appliances, plank vinyl flooring, quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, upgraded plumbing fixtures and in-unit washers and dryers. Investors will have the opportunity to follow this proven interior renovation strategy in the remaining 4 units (25%) and capture 12%+ upside in rental income.
-----------------------------------------
TOURS AVAILABLE UPON REQUEST
IPA is offering this Property as part of the 5-property, 92 unit Vive LA² Portfolio of assets. Properties may be purchased on an individual, multi-property, or complete portfolio basis. Property tours are available during the following time slots on the following dates upon request.
All tour requests must be scheduled by contacting either Kevin Green ([email protected]) or Joe Grabiec ([email protected]) to reserve and confirm your spot.
Tour Dates:
Wednesday, July 17th
Tuesday, July 23rd
Time Slots by Property Available on Tour Dates:
Ethan on Evans; 22 Units; 3804 Evans St W (Silver Lake) 9:00am to 9:30am
Callie on Curson; 20 Units; 1300-1308 N Curson Ave (Hollywood) 10:00am to 10:30am
Sage on Sweetzer; 16 Units; 1265 N Sweetzer Ave (West Hollywood) 10:45 to 11:15am
Dean on DeLongpre; 18 Units; 8450 DeLongpre Ave (West Hollywood) 11:15am to 11:45am
Beau on Bundy; 16 Units; 1231 S Bundy Dr (West LA) 12:30pm to 1:00pm
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Property Details
- Class
- C
- Year Built
- 1970
- Stories
- 2
- Lot Size (sq. ft)
- 12,197 SF
- Units
- 16
Highlights
- Offering this Property concurrently with the 5-property, 92-unit Vive LA Portfolio of assets.
- Turn-Key with Upside: Beau on Bundy offers investors a proven interior renovation scope to emulate and capture 12%+ in remaining rental income upside.
- With most of the mechanical systems & deferred maintenance needs addressed, investors can focus on high return on investment interior renov.
- West LA is a Superb Submarket: West Los Angeles boasts some of the strongest demographics in the region for multifamily investment.
- Strong Recent Leasing: The Property recently achieved $2,900 on a renovated 1-bedroom and $3,500 on a renovated 2-bedroom.
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