Residential Income – 245 S Reno St, Los Angeles, CA 90057, USA -001-11-30T00:00:00-08:00
245 S Reno Street is a 66-unit apartment building located in the heart of Rampart Village one of the most desirable rental markets in Los Angeles. Built in 1964, the property consists of an excellent mix of Bachelor, Studio, and 2 Bedroom Units. Units are eq
245 S Reno St, Los Angeles, CA 90057, USA
$11,650,000 USD
Pictures
Map
Object Images
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Small Object Image
Contact us
Schedule Tour
Address245 South Reno Street, Los Angeles
Price$11,650,000
Year Built1964
Bedrooms Total0
Lot Size (Sq.Ft.)18,978
Listing ID20544324
StatusActive Under Contract
Parcel Number5155006027
ZoningLARD1.5
Special ConditionsStandard
Days on Market42

Detailed Description: 245 S Reno Street is a 66-unit apartment building located in the heart of Rampart Village one of the most desirable rental markets in Los Angeles. Built in 1964, the property consists of an excellent mix of Bachelor, Studio, and 2 Bedroom Units. Units are equipped with personal amenities and kitchenettes with each room having its own personal balcony. There is an on-site laundry facility which allows an investor to capitalized on the additional income. Situated in the highly rentable Rampart Village neighborhood, tenants benefit from the ability to walk to the many restaurants, cafes, bars, nightlife and shopping that line Beverly Blvd and Wilshire Blvd. The properties proximity to Downtown and Beverly Hills, provides easy transport to and from work and weekend entertainment for the plethora of renters in Los Angeles. Koreatown and Westlake have attracted one of the highest densities of apartment renters in California which allows an owner to take advantage of the ever-growing presen

Parking
Senior Community

Property added to favorites
Add to Favorite
Mortgage calculator
More Information
Loan
Mortgage
Expert
Loan amount
Loan term
Annual interest rate
First payment date
Amortization period
Calculate
Hide
Address Information
Address245 South Reno Street, Los Angeles
Street PrefixSouth
Street SuffixStreet
CityLos Angeles
Location (MLS Area)C42 – Downtown L.A.
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90057
Financial Information
Purchase Contract DateFebruary 18, 2020
Price per Lot Square Foot$613.87
Special ConditionsStandard
Gross Operating Income$932,574
Gross Income$923,808
Net Operating Income$570,550
Gross Multiplier12.13%
Tax Year2000
Full Descriptions
Parcel Number5155006027
Detailed Description245 S Reno Street is a 66-unit apartment building located in the heart of Rampart Village one of the most desirable rental markets in Los Angeles. Built in 1964, the property consists of an excellent mix of Bachelor, Studio, and 2 Bedroom Units. Units are equipped with personal amenities and kitchenettes with each room having its own personal balcony. There is an on-site laundry facility which allows an investor to capitalized on the additional income. Situated in the highly rentable Rampart Village neighborhood, tenants benefit from the ability to walk to the many restaurants, cafes, bars, nightlife and shopping that line Beverly Blvd and Wilshire Blvd. The properties proximity to Downtown and Beverly Hills, provides easy transport to and from work and weekend entertainment for the plethora of renters in Los Angeles. Koreatown and Westlake have attracted one of the highest densities of apartment renters in California which allows an owner to take advantage of the ever-growing presen
Heating DescriptionCentral
Parking FeaturesParking Space
Property parameters
Year Built1964
Lot Size (Sq.Ft.)18,978
Lot Size (Acres)0.436
Number of Buildings1
Number of Units Total66
ZoningLARD1.5
Stories Total2
Units Total66
Vacancy Allowance Rate7%
Listed withDavid Harrington (Matthews Real Estate Investment Services)