Los Compadres 3518 W Dunlap Ave

Los Compadres is a 96-unit property that features an excellent unit mix with mostly large two-bedroom, two-bathroom units. This is the perfect value-add opportunity for an owner who wants to take this property up a notch by increasing curb appeal, signage, and presentation to prospective tenants as well as the continued remodeling of interiors. This property can be a cash-flowing machine after making value-add improvements to realize substantial cash flow. Each unit has large walk-in closets and private patios. The community features covered parking and includes a large rental office and clubhouse with an adjacent pool and sundeck area.
The landscaping can be kept low-maintenance with the addition of granite rock and desert plants. This block-construction property could be run as-is or repositioned; either way, there are value-add improvements a new owner could make to realize further increases in rents. The large community rooms in the clubhouse could be turned into additional units, converted into storage units for tenants, or made into a workout/rec room for residents to enjoy.
The 96 units that comprise the apartments are all in one tax parcel to the east that is contiguous to the larger Los Compadres/Dunlap Condominiums property of 96 condos to the west which are individually condo-mapped and mostly investor-owned. One potential exit strategy could be to place a condo map on the property and sell off the individual condos. Recent condo sales comps are included in the package.
There is one laundry room on the property, however, adding a stackable washer/dryer in the hallway closets of each unit could increase cash flow and thus the value of the property. Courtyards could be improved with additional BBQ grills and seating areas under shade canopies. Please schedule a tour with the listing agent to see how this property could be the investment opportunity you've been looking for.