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Reno Arms 143 N Reno St 16 Unit Apartment Building $2,784,860 CAD ($174,054 CAD/Unit) 5.32% Cap Rate Los Angeles, CA 90026
INVESTMENT HIGHLIGHTS
- Pride-of-ownership 16-unit apartment building in Los Angeles’ popular Westlake neighborhood
- Building offers 13 studios, three one-bedroom units, and on-site laundry
- Opportunity to capture 44 percent rental upside in a consistently strong rental submarket
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present to market 143 North Reno Street in Los Angeles’ popular Westlake neighborhood. Under the same ownership for 25 years, this offering is an excellent opportunity to reposition a pride-of-ownership asset and capture 44 percent rental upside. 143 North Reno Street is a well-maintained, Spanish-style 1927 construction with 13 studios and three one-bedroom/one-bath units. The building also offers on-site laundry. The property’s Westlake location offers easy access to world-class entertainment, dining and retail, and convenient proximity to the 101 Freeway and Downtown Los Angeles.
PROPERTY FACTS
| Price | $2,784,860 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $174,054 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.32% | Building Size | 9,240 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | ||
| Zoning | R4-2, Los Angeles - high density multiple-family residential district | ||
| Price | $2,784,860 CAD |
| Price Per Unit | $174,054 CAD |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 9,240 SF |
| No. Stories | 2 |
| Year Built | 1927 |
| Zoning | R4-2, Los Angeles - high density multiple-family residential district |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
| 1+1 | 4 | - | - |
1 1
Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 5156-011-003 | Improvements Assessment | $409,310 CAD |
| Land Assessment | $250,859 CAD | Total Assessment | $660,169 CAD |
PROPERTY TAXES
Parcel Number
5156-011-003
Land Assessment
$250,859 CAD
Improvements Assessment
$409,310 CAD
Total Assessment
$660,169 CAD
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Reno Arms | 143 N Reno St
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