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Apartments For Sale • 16,942 Sq Ft
The Armor Collection is a once-in-a generation investment opportunity in Los Angeles’ Westlake neighborhood. The portfolio features 10 buildings totaling 300 units; all properties are within 2 miles of each other.The properties present an impressive unit mix throughout, consisting of mostly studios and one-bedroom units. Most of the units are currently below market rent, offering an investor a true value-add opportunity and the ability to increase cash flow through renovations. The portfolio is being offered at a low price per unit of $158,500 blended, with current loss-to-lease of over 24% as units turn. * Subject property is part of a 10-property portfolio totaling 300 units. This offering can be purchased individually or collectively
| Rare opportunity to acquire large portfolio in Westlake |
| Portfolio includes 10 properties totaling 300 units |
| Value-add opportunity – renovations will increase cash flow |
| Offered at a low price-per-unit of $158,500 blended |
| Significant rental upside of 32% as units turn |
| Attractive going-in cap rate of 4.4% |
| Cap Rate: | 4.82 % |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Union Station Commuter Rail (Ventura County, Antelope Valley, San Bernardino, Riverside, Orange County, 91 Lines) | 9 min | - | 3.8 mi |
| Glendale Commuter Rail (Ventura County, Antelope Valley Lines) | 13 min | - | 6.3 mi |
| Transit/Subway | Drive | Walk | Distance |
| Westlake/MacArthur Park Station (Purple, Red Lines) | 2 min | 12 min | 0.6 mi |
| Wilshire/Vermont Station (Purple, Red Lines) | 3 min | 16 min | 0.8 mi |
| Airport | Drive | Walk | Distance |
| Bob Hope Airport | 24 min | - | 13.2 mi |
| Los Angeles International Airport | 25 min | - | 14.0 mi |
| Long Beach-Daugherty Field Airport | 32 min | - | 23.1 mi |
| Parking Available: | No |
| Reserved: | No |
| Type: | SurfaceTandem |
| Included in Rent: | Yes |
