Reno Arms | 143 N Reno St
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Reno Arms 143 N Reno St
16 Unit Block of Flats £1,909,248 (£119,328/Unit) 3.29% Net Initial Yield Los Angeles, CA 90026
Investment Highlights
- Pride-of-ownership 16-unit apartment building in Los Angeles’ popular Westlake neighborhood
- Potential to capture 54 percent rental upside
- 143 North Reno Street is offered for sale exclusively upon buyer’s use of seller financing; terms to be negotiated. Contact listing agent for details
- First time on market in 25 years
- Building offers 13 studios, three one-bedroom units, and on-site laundry
Executive Summary
Marcus & Millichap is pleased to present to market 143 North Reno Street in Los Angeles’ popular Westlake neighborhood. On market for the first time in 25 years, this offering is an excellent opportunity to reposition a pride-of-ownership asset and capture 54 percent rental upside.
143 North Reno Street is a well-maintained, Spanish-style 1927 construction with 13 studios and three one-bedroom/one-bath units. The building also offers on-site laundry.
The property’s Westlake location offers easy access to world-class entertainment, dining and retail, and convenient proximity to the 101 Freeway and Downtown Los Angeles. This rental submarket’s strong performance is demonstrated by the new Arancia apartment building, just half a block from the subject property, where studios are achieving rents of up to $2,300 per month and one-bedrooms are achieving $3,050.00 per month.
143 North Reno Street is offered for sale exclusively upon buyer’s use of seller financing; terms to be negotiated. Please contact listing agent for details.
143 North Reno Street is a well-maintained, Spanish-style 1927 construction with 13 studios and three one-bedroom/one-bath units. The building also offers on-site laundry.
The property’s Westlake location offers easy access to world-class entertainment, dining and retail, and convenient proximity to the 101 Freeway and Downtown Los Angeles. This rental submarket’s strong performance is demonstrated by the new Arancia apartment building, just half a block from the subject property, where studios are achieving rents of up to $2,300 per month and one-bedrooms are achieving $3,050.00 per month.
143 North Reno Street is offered for sale exclusively upon buyer’s use of seller financing; terms to be negotiated. Please contact listing agent for details.
Property Facts
| Price | £1,909,248 | Property Subtype | Apartment |
| Price Per Unit | £119,328 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 3.29% | Lot Size | 0.14 AC |
| Gross Rent Multiplier | 11.72 | Building Size | 9,240 SF |
| No. Units | 16 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1927 |
| Price | £1,909,248 |
| Price Per Unit | £119,328 |
| Sale Type | Investment |
| Net Initial Yield | 3.29% |
| Gross Rent Multiplier | 11.72 |
| No. Units | 16 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 9,240 SF |
| Number of Floors | 2 |
| Year Built | 1927 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 13 | - | - |
| 1+1 | 3 | - | - |
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Walk Score ®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 5156-011-003 | Improvements Assessment | £227,411 |
| Land Assessment | £139,376 | Total Assessment | £366,786 |
PROPERTY TAXES
Parcel Number
5156-011-003
Land Assessment
£139,376
Improvements Assessment
£227,411
Total Assessment
£366,786
zoning
| Zoning Code | R4-2, Los Angeles |
| R4-2, Los Angeles |
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Reno Arms | 143 N Reno St
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