3137 Perlita AVE Atwater Village, CA 90039

First time for sale since 1991. 4-unit value-add apartment investment opportunity in Atwater Village area of Los Angeles (bordered by Los Feliz and Silver Lake). Based on rent comparable of upgraded units in the area, the offering provides a potential CAP Rate of over 8%. The property has new roof that was installed in 2017. The property is a 2-story garden style apartment that was built in 1961. It has an excellent unit mix of 2 x 2bedroom+1bathroom and 2 x 1bedroom+1bathroom units. It is situated on a 5,399 SF lot and offers 4 carport parking. There is no tuck-under parking which eliminates any soft-story retrofit requirements. It has shared laundry area in the back (seller own machines). Each unit is separately metered for electricity and gas. Each unit is occupied by long-time tenants that are on month-to-month lease. Each unit has windows A/C, wall heater, individual water heater, laminate kitchen countertop, and tiled bathroom. None of the units have been upgraded (unit #1 has updated flooring, the other 3 are on carpet).