SEE DOCS SECTION FOR OM. We are pleased to present the opportunity to acquire 1513 Arlington Ave., a nine-unit multifamily investment property located in the Arlington Heights neighborhood of Los Angeles. Built in1963, the property sits between Pico Boulevard and Venice Boulevard just south of 15th Street, placing it… Read More in one of the most centrally located rental markets in Los Angeles. The property offers investors a compelling value add opportunity. With one unit delivered vacant and strong rental upside, a new owner has the opportunity to increase income while benefiting from the long-term stability of a centrally located multifamily asset. PROPERTY DESCRIPTION1513 Arlington Ave. is a nine-unit multifamily property located in the Arlington Heights neighborhood Los Angeles. Built in 1963, the two-story building offers a diverse unit mix consisting of studio, one bedroom, and two-bedroom apartments designed to appeal to a wide range of tenants. UNIT DETAILS All the units have well designed floor plans that include large bedrooms, large bathrooms, large kitchens, spacious living areas and ample closet space. Some units have been updated with new vinyl plank flooring, LED lighting, stainless steel appliances, kitchen cabinetry, granite counter tops, and new vanities, sinks, and tiled tubs in the bathrooms. Each unit also includes a wall heating system, double pane windows, and some have wall mounted air conditioning units. GENERAL BUILDING DETAILS The building has benefited from several capital improvements including the installation of a TPO roofing system, copper plumbing, a soft-story seismic retrofit, and upgraded double pane windows throughout the property. Community amenities include an on site laundry facility with two washers and two dryers. RUBS The current owner has begun implementing a utility reimbursement program (RUBS) for new tenant lease with Units 1 and 9. A new owner will be able to continue this program going forward. ADU POTENTIAL The front and rear tuck under parking areas are large and have ample ceiling height. These areas may offer opportunities for accessory dwelling unit development. Buyers are encouraged to verify the potential here with the City of Los Angeles. PROPERTY LOCATION 1513 Arlington Ave. is located in the Arlington Heights neighborhood of Los Angeles, a centrally located residential community known for its accessibility to major employment centers and vibrant surrounding neighborhoods. The property is situated near the intersection of Arlington Avenue and Pico Boulevard, providing tenants with convenient access to retail, restaurants, and neighborhood amenities. The area offers strong connectivity throughout Los Angeles with quick access to the 10 Freeway and several major arterial streets including Venice Boulevard, Pico Boulevard, and Washington Boulevard. Residents benefit from the property's central location, allowing easy commuting to Downtown Los Angeles, Koreatown, West Los Angeles, Beverly Hills, Hollywood and the greater Los Angeles metropolitan area. The neighborhood continues to attract renters seeking affordable housing options within close proximity to major job centers and lifestyle amenities. Read Less
Property listed by Equity Union, Josh Kaplan 818-989-2000
Listing Snapshot
Days Online
31
Last Updated
Beds
9
Square Ft.
5,857
Lot Size
0.17 Acres
Year Built
1963
MLS Number
26669943
Additional Details
Building
Built in 1963, Living area: 5857.0, 1 building, 2 stories, Levels: MultiSplit
Cooling
None
Heating
None
Income
Gross Income: $174,358, Net Operating Income: $113,643
Lot
0.1723 acres
Parking
13 total parking spaces, None
Taxes
Parcel Number: 5072034003, Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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