The LA Apartment Advisors are proud to present these 6 units located at 1445 S Hayworth Avenue in Los Angeles, California. Built in 1956, the property sits on 7,123 square feet of land with 7,275 square feet of rentable area and consists of 2- one bed / one bath, 2- two bed / two bath and 2- three bed / two bath units. The average square feet per unit is over 1,200 sq.ft., making these very large units. 

Currently, the Seller operates the building completely through Airbnb, meaning there are no leases in place, allowing for the property to be delivered completely vacant for the buyer. 

Furthermore, the Seller is willing to do a seller-carry finance structure so that the buyer does not need to pay all cash or get an expensive bridge loan or hard money loan while they do their renovations. 

Throughout the 13 year ownership of the Seller, the property has been very well maintained with upgrades done to each and every unit. A savvy investor would still want to spend some money making the units more modern in order to achieve top of the market rents, but the buyer will not have to spend a lot of money on the units for the major systems since those have been upgraded and kept in good shape, according to the Seller.

Lastly, the property will need to be retrofitted per the City's mandate, however, an investor would be able to quickly get this work done before there are any tenants in the property, making the process as seamless as possible. 

The ideal strategy for this investment would be for an investor to utilize the Seller's option of a Seller-Carry loan (terms are negotiable), then spend a few months making the building turn-key. Once that is done, and the value of the property is at it's peak, an investor could refinance at today's historically low rates, pay back the Seller Carry finance, and cash flow on a perfectly turn-key building in a great location, or flip it back to the market for a quick profit, depending on the investor's strategy. 

With a walk score of 86, this property is ideally located in the rental hub of Mid-City, and with all of the units delivered vacant, this property is a value-add buyer's dream!