1815 Hauser Boulevard, Los Angeles, CA 90019

Property Description

The property for sale is a 8-unit apartment complex located at 1815 Hauser Boulevard, Los Angeles CA 90019. The subject property is located just south of Venice Boulevard and north of Washington Boulevard, west of Hauser Boulevard. The 7,694 square foot two story apartment was built in 1928 and is situated over a 10,802 square foot lot & is zoned LARD1.5. The eight-unit apartment consists entirely of 2 bedroom / 1 bathroom units. There are 8 on-site parking spots located at the back of the property. The property has approximately 54% remaining rental upside through potential unit turn over. A savvy investor can also take advantage of higher potential rents by renting to Section 8 tenants which pay higher than current market rents for Mid-City 90019 zip code. The Housing Authority of the City of Los Angeles (HACLA) voucher payment standards pays up to $2,887for 2 bedroom units. There are multiple developments that are currently underway in Mid-City and in planning stages. Mid-City is centrally located, offering unparalleled convenience in one of LA's most desirable areas. The property is near a number of restaurants, cafes, bars, grocery stores, shopping centers and spiritual centers. Mid-City is a diverse community that is being gentrified in a quiet neighborhood in the center of Los Angeles. The sub-market witnessed a relatively strong renter demand for 490 units during the past 12 months, compared to the five-year average annual renter demand for 370 units.