2221 Michigan Ave - Apartments FOR SALE


Los Angeles, CA 90033- Boyle Heights
$5,290,000 USD
310-903-0222
2221 Michigan Ave, Los Angeles, CA for Sale
$5,290,000 USD
Apartments - FOR SALE
1/32
null | 6.2% Cap Rate

2221 Michigan Ave
Los Angeles, CA 90033
Boyle Heights


HIGHLIGHTS

  • opportunity to master lease
  • house your own programmed clients
  • fully renovated with all new building systems

OVERVIEW

32-unit property with 8 apartments and 24 guest rooms. All units have their own bathrooms and kitchenettes. This would be a perfect opportunity for a master lease option or purchase by a program to house their own clients. All units are to be delivered fully renovated and housing ready. A full renovation is underway which includes complete plumbing re-pipe, electrical re-wire with all brand new equipment and separate metering, mini split HVAC systems, and all new finishes.

FOR SALE DETAILS

PRICE

$5,290,000 USD

PRICE/SF

$573 USD /SF

# OF UNITS

32

PRICE/UNIT

$165,313

CAP RATE

6.2%

% LEASED

0%

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Michigan Avenue Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,053 SF

ZONING

R4, Los Angeles

APN/PARCEL ID

5183-003-012

ASK ABOUT THIS PROPERTY

Logan AltmanAltman Apartments LLCMore Info
310-903-0222

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Logan AltmanAltman Apartments LLCMore Info
310-903-0222

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