$2.11M
2011 Chariton St, Los Angeles
Sale Price
$2.11M
Units
6
Price/Unit
$352,000
Cap Rate
3.39%
Type
Apartment Building
Closed
October 2020
5 Units | Los Angeles | Sold w/ Significant Deferred Maintenance
The LA Apartment Advisors are pleased to announce the successful sale of five (5) units plus one (1) non-conforming unit located at 2011 Chariton Street, Los Angeles, California. The property's building area totaled 6,297 SF and comprised of all 3 bedroom / 2 bathroom units. The non-conforming unit was a studio.
Built in 1961, the building had a tremendous amount of deferred maintenance. Additionally, many tenants were significantly behind on their rents due to the Covid-19 pandemic and were not very accommodating when we tried to inspect the property. Even though the property and the transaction posed numerous challenges, we sourced a suitable buyer who closed on the deal all cash with the building being sold as-is. Even with everything going on with the pandemic, our experience helped us navigate this challenging transaction and ensured a smooth and successful closing.
For more information about this transaction or a complimentary evaluation of your property, give us a call today!
Closing