2966 CLARENDONDowntown - 18 Unit Building, Huntington Park, CA 90255
10,891 Sq Ft
0.36 Acres lot
Las Lomas Apartments is exceptionally well located in the heart of Los Angeles between the 110, 710, 5, and 10 freeways, only 15 minutes from downtown LA. Due to the property’s close proximity to major employment hubs of Southern California, the apartments have enjoyed historically low tenant turnover and have had no spells of vacancy even during COVID shut downs. In addition, the property commands the highest rents in its submarket. Las Lomas is close to grocery stores, the Civic Center, schools, major freeways, and high quality jobs. This sort of convenience is usually associated with the hustle and bustle of the city, however to the contrary, Clarendon Ave. is a quiet street in a residential neighborhood consisting of primarily single family homes. The management has built a community of quiet, respectful and responsible residents. The current management has invested over $250,000 into improvements, and fully renovated most of the units and areas of the property. An additional $80,000 was spent converting a large portion of the property’s plumbing from galvanized piping to copper and abs. Furthermore, management has spent $7,000 rewiring the electrical. On-Site Manager of 25 years! On-Site Maintenance Person who has done all the construction and maintenance for the last 6 years! This is a perfect opportunity to acquire a well-maintained asset that can continue to develop its upside and place in its market as a premier housing accommodation for years to come!