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Listed by Judson Leibee • JCI Real Estate, Inc.
$12,500,000
Est. payment /mo
83,617 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 83,617 sqft
Price per Sqft $149
MLS Listing ID CROC25124018
HOA Y/N No
Year Built 2008
Lot Size 1.307 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
Exceptionally well-maintained apartment complex consisting of a good mix of 1, 2, and 3 bedroom units across multiple three-story structures. The property is subject to an restrictive affordability covenant that expires in 2060. Situated on 1.3 acres, the property also offers the potential to add additional units such as ADU's (buyer to verify). Existing City / Government loans may be assumable subject to Lenders' approval. Seller may be subject to certain notice provisions under the Affordable Housing Preservation Laws, including a possible opportunity for certain qualified entities to submit an offer, which may extend close of escrow. Prospective Buyers are encouraged to be able to show proof of history and ability to operate an affordable housing apartment complex, and encouraged to register with the state and/or local housing authority to become a "Qualified Entity" in order to ensure a smooth and timely transaction. Buyer to verify all information including financials. Financial information provided by Seller is based on actual rents in compliance with affordability covenants; scheduled rents and operating expenses are adjusted to adjust for vacancies and one-time expenses and include expected property taxes excluding welfare exemptions (ie a nonprofit Buyer would likely be
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry See Remarks
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