16-unit Rampart Village, Silver Lake adjacent 143 N Reno St

Growth Investment Group is proud to present the sale of 143 N Reno St, Los Angeles. A 16-unit bread-and-butter Value-Add Opportunity in Rampart Village neighborhood. The property has been with the same ownership for more than 25 years. It is located on a side residential street and centrally situated only several blocks south of Silver Lake area and Silver Lake Blvd. Bordering Silver Lake, Echo Park, and Koreatown area, this location provides consistently high demand for apartment units. The offering provides an attractive high CAP Rate with proforma CAP Rate close to 10%.
Built in 1927, the property offers large building size totaling ±9,240 SF of square footage on a sizeable ±6,000 SF lot. The property is an easily maintained two-story building, with a good unit mix of four (4) x 1bed+1bath, and twelve (12) large studios. It has an unusually wide hallway area which provides a good common area atmosphere to the building. The building has been well maintained by the current owner with some notable capital improvements in recent years which include electrical panels upgrade, and a foundation strengthening recently.
Each unit offers a spacious and functional layout which includes large full kitchens & bathroom (with bathtub) with a large closet space (some are walk-in closets). Some units have been somewhat updated with vinyl wood flooring, and updated kitchen. Studio units are spacious with an estimated size around 400-500 SF each (buyer to verify). Two of the studios are vacant and may be delivered vacant.
The property has a basement that is being used as a shared laundry room and master water heater area. Laundry machines are leased. The property has a secure entrance, is master metered for utilities and water, and has a flat roof.
Location Amenities and Access
Centrally located in Rampart Village area and only blocks away from Silver Lake area and Silver Lake Blvd, this property is adjacent to Echo Park, Koreatown and only minutes away Downtown Los Angeles Financial District, University Park, MacArthur Park, Mid-City, Koreatown, Silver Lake, Echo Park, Central Los Angeles, Melrose Hill, East Hollywood, Historic Filipino town, and Angelino Heights.
143 N Reno is in perfect adjacency to many of Los Angeles trendiest boutique restaurants, coffee shops and upscale bars in Westlake, Silver Lake-Echo Park, University Park & Downtown Los Angeles’s LA Live. Its location provides easy access to many of the city’s largest & strongest employers and major retailers. Some of employers include University of Southern California, Fashion Institiute of Design & Merchandise,Crypto Arena, Koreatown Plaza, Los Angeles Convention Center & major employer hub: Los Angeles Financial & Arts District, Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, and American Career College. All of this while providing easy access to the 101 & 110 Freeways.