676 S RAMPART BLVD

LOS ANGELES, CA, 90057

$6,304,000

$356 per ft²
$6,304,000
$356 per ft²
Active
Active
 - For Sale
beds
8 Beds
baths
32 Baths
carpenters-square
17,680 ft²
property_type
Multi-family
calendar
Built 1916
676 Rampart Blvd. is a beautiful Beau Arts style apartment property located in Mid-Wilshire/Koreatown just a half-block south of Wilshire Blvd. The immediate area is one of the most interesting and investment rich locations in Los Angeles with new developments like the Kurve on Wilshire and registered historic trophy apartments like the Wilshire Royale, Bryson and The Town House dotting the skyline. The iconic Art Deco Bullocks Wilshire historic-cultural monument is just a few blocks away from 676 Rampart, purchased and adapted by Southwestern Law School in 1994. Ownership estimates that about one-third of the units have been renovated, offering real value-add opportunity on the majority of apartments. The building is separately metered for electricity and is plumbed for separate gas meters but currently master metered. About 34% upside in rents is projected given today's loss to lease and further NOI growth is possible by implementing a RUBS program on turnover. The property is subject to the Los Angeles Rent Stabilization Ordinance and features a common laundry area for the tenants' use. Available as a portfolio with 5607 Virginia Ave. (24 units). Visit the Property Website or contact the Listing Team for the Offering Memorandum.
MLS® ID:
22-136373
Listed:
3/13/22
Updated:
8/10/22

Interior Features

Total Bedrooms
8
Total Bathrooms
32
Laundry Description
Community, Laundry Area
Cooling
None
Heating
Wall Gas

Exterior/Building Features

Lot Size
5,998 ft² lot
Exterior Features
Brick, Stucco
Roof
Flat
Sewer
In Street

Other Property Details

Garage
No
Parking
None
View
Y
County
Los Angeles
Pool
No
Total Stories
4
Zoning
LAC4
Contact