2027 S Ridgeley Drive Los Angeles, CA 90016
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
This 8 unit property located near the corner of Washington and Ridgeley includes a mix of 1 bedroom and 2 bedroom rental units, three of which are Section 8 housing. It is central to many Los Angeles attractions: 8.9 miles to LAX, 4.3 miles to Beverly Hills, 3 miles to The Grove, and about half a mile to a big Target store. It is also within walking distance to the metro station on La Cienega. This property is a well-oiled working machine and has big income potential because of the location. The two bedroom units are renting for $1850 and the one bedroom units for $1450 with a rent increase of 3% every year. The property is paying for itself, nothing out pocket for the seller. The rental rates could be maximized - the seller was not able to maintain the yearly increase. The water heater was changed last year, 2020. The whole building was painted 5 years ago. In 2017, the roof was fixed for leaks, the roof of the carport was replaced, no major repairs.
| 3 weeks ago | Listing updated with changes from the MLS | |
| a month ago | Status changed to ACTIVE | |
| a month ago | Price changed to $2,250,000 | |
| 11 months ago | Listing first seen online |
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Data last update at 2022
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