Marcus & Millichap is proud to present a six-unit multifamily property located at 1633 Rockwood Street in the Westlake neighborhood of Los Angeles, California. Situated north of Beverly Boulevard and west of Glendale Boulevard, the property is well-positioned in an attractive Westlake location adjacent to Echo Park and Downtown Los Angeles.
Westlake is a high density community in the city of Los Angeles to the east of Koreatown and northwest of Downtown. Nearby amenities include the Echo Park and MacArthur Park Lakes, trendy retail spaces, Harris Newmark High School, and Vista Hermosa Natural Park. As a continuously redeveloping area with attractive amenities, Westlake attracts young people because of its ideal location between West and Downtown Los Angeles.
Built in 1965, the investment property consists of two two-story buildings that feature a particularly spacious unit mix of (4) two-bedroom/one-and-a-half-bathroom units, and (2) four-bedroom/two-bathroom units. Currently, one of the four-bedroom/two-bathroom units is rented out as a two-bedroom/one-bathroom unit leaving the other half of the original apartment as a potential non-conforming rental unit or potential rental upside. The property sits on a quite street and features gated entry alongside well -maintained landscaping providing additional privacy. Well-positioned in the Westlake neighborhood near the 101 and 110 Freeways, tenants have quick access to both of the west and south sides of the city. The subject property presents an excellent opportunity to acquire an asset with tremendous rental upside potential.
- Extraordinary Rental Upside Potential
- Gated Entry
- Strong Echo Park Location
- Nearby Downtown Los Angeles
- Short Drive to Dodger Stadium