Los Angeles, CA 90016

This exceptional opportunity caters to a wide range of investors and users. The multifamily units are not subject to Los Angeles RSO rent increase protections, please view the letter from HCIDLA in the deal room for background. The property is comprised of a vacant 1,170 square-foot commercial building and yard of approximately 9,759 square feet of lot area at 5010 W. Washington Blvd. and a 15-unit apartment complex at 5016 W. Washington Blvd. The total combined lot area is approximately 19,518 square feet zoned LAC2 with TOC Tier 2status.The apartment portion boasts 8 current vacancies (over 50%), allowing a buyer to reposition the property as desired with market or subsidized tenants. The entire property was renovated inside and out, including all new major systems, in 2003. The commercial portion is currently being marketed for lease on a triple net basis. The property also represents an incredible owner-user opportunity as a business owner may occupy the commercial portion and enjoy the additional apartment income of approximately $24,200 per month. The surrounding area is a dynamic and diverse urban community that offers a blend of residential comfort and commercial convenience. The property sits on a major east-west thoroughfare, providing direct access to a wide variety of amenities, shops, and casual eateries that cater to a vibrant local population. This stretch of Washington Boulevard has a tangible urban feel, with a mix of small businesses, art spaces, and local cafes that give the area its unique character. The neighborhood is highly walkable, with a very high Walk Score, allowing residents to complete most daily errands on foot. For those who rely on public transportation, the location is exceptionally well-connected, with bus lines running directly along Washington Boulevard and the Metro E Line (light rail)providing quick access to Downtown Los Angeles and Santa Monica. This easy connectivity, combined with its central location, places residents within a short drive or transit ride of major Los Angeles destinations, from the cultural institutions of the Miracle Mile to the bustling commercial hubs of Koreatown.