1246 S Saltair Ave - Apartments FOR SALE


Los Angeles, CA 90025- West Los Angeles
$2,450,000 USD
310-494-6368
1246 S Saltair Ave, Los Angeles, CA for Sale
$2,450,000 USD
Apartments - FOR SALE
1/28
null | 5.14% Cap Rate

1246 S Saltair Ave
Los Angeles, CA 90025
West Los Angeles


HIGHLIGHTS

  • 8-units in an ultra prime Brentwood adjacent location. Two separate structures with classic mid-century charm.
  • Mix consists of (8) 1BR/1BA units; 4 units per building. Laundry room on-site brings in additional cash flow.
  • 5 of 8 units have undergone tasteful unit renovations including hardwood floors, updated kitchens and bathrooms, new wall heaters, and interior paint.
  • Close to Santa Monica Beach, UCLA, Westwood Village, and major employers in Century City.
  • Building upgrades include new sewer and drain lines, updated electrical, new windows & exterior painting, and one of the units has a mini-split HVAC.
  • Parking can accommodate 7 vehicles with 5 uncovered spaces in the rear and 2 in the front.

OVERVIEW

The Glaser Group is pleased to present 1246 S Saltair Avenue, an 8-unit multifamily property located in the heart of West Los Angeles. Built in 1955/1958. The property consists of two separate structures, each containing four one-bedroom, one-bathroom units averaging 540 square feet each. A thoughtfully designed courtyard connects the two buildings, creating a central community garden for residents. The property benefits from a series of recent capital improvements that enhance both livability for tenants and long-term stability for ownership. Five of the eight units have been remodeled within the past three years with new wall heaters, one unit in the front structure includes a mini-split HVAC system, and all 8 units are equipped with their own separate water heater. The drain lines were replaced under the back building and a new sewer main line was installed. Plus there have been electrical panel upgrades for every unit, new dual-pane vinyl windows installed throughout, and a full exterior repaint was completed last year. Additional amenities include seven dedicated parking spaces—five uncovered at the rear and one on each side of the front of the property—along with a building-owned on-site laundry facility that provides convenience for residents while generating supplemental income for ownership. The property is ideally located in a highly sought-after West Los Angeles neighborhood. Residents enjoy close proximity to Sawtelle Japantown, known for its diverse dining options including Tsujita LA Artisan Noodle, Daikokuya, and Sushi Tsujita, along with a variety of boutique shops and cafes. The property is also minutes from Westfield Century City, cultural attractions such as the Hammer Museum and UCLA, and just a short drive to the beaches of Santa Monica. With direct access to Century City, Beverly Hills, and Santa Monica employment hubs, as well as convenient transportation options via the I-405 and Metro Expo Line, the property is well positioned to attract strong and stable tenant demand. With its prime Westside location, extensive recent upgrades, and strong area fundamentals, 1246 S Saltair Avenue presents investors with the opportunity to acquire a well-maintained, cash-flowing asset in one of Los Angeles’ most desirable rental submarkets.

FOR SALE DETAILS

PRICE

$2,450,000 USD

PRICE/SF

$390 USD /SF

# OF UNITS

8

PRICE/UNIT

$306,250

CAP RATE

5.14%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,878 SF

ZONING

LAR3

APN/PARCEL ID

4263-005-053

ASK ABOUT THIS PROPERTY

Jake GlaserLyon Stahl Investment Real EstateMore Info
310-494-6368

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Jake GlaserLyon Stahl Investment Real EstateMore Info
310-494-6368

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.