8511 S Vermont Avenue

8511 S Vermont Avenue Los Angeles, CA 90044

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FOR SALE Incentives
Property Type:
MultiFamily Apartments
Amount:
$2,215,000
Last Verified:
Aug 10, 2017

Highlights

  • Across the Street from the Future Vermont Entertainment Village Development
  • Over $400k in Tenant Improvements
  • Stabilized High Yield
  • Completely Rehabbed with Permits. Turn-Key Condition
  • 3% Rent Increase Per Year
  • Excellent Location West of the 110

Description

Rosano Partners is pleased to present the opportunity to acquire a full-service rehab facility on a NNN lease. This eighteen unit mixed-use apartment and commercial building was built in 1927. The subject property offers a unit mix of 16 SRO (Single-Room Occupancy) units, and 2 retail units used as office for the facility. The subject property is 100% leased out by the Exodus Foundation which offers sober care and rehabilitation services.
Exodus Foundation has over 10 years at the subject location with 11 more facilities in Los Angeles, and other facilities in San Diego, Solano, Fresno, and Napa. The tenant is on a NNN lease agreement and have spent over $400k in tenant improvements. With their intake center being only one block away, this property is an irreplaceable asset to the tenant due to its closeness and utility.

The subject property is situated on 8511 South Vermont Avenue in South Los Angeles near the intersection of Vermont Avenue and Manchester Avenue. Centrally located west of the 110 Freeway and North of the 105 Freeway. Being less than a mile from many Metro Local Lines, restaurants, and entertainment options, tenants will benefit from the local offerings and transportation.


Year Built: 1927
Building Size: 10500.0sq ft
Lot Size: 0.14 acres

Map of 8511 S Vermont Avenue, Los Angeles, CA, 90044

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.