245 South Reno Street
245 South Reno Street
$12,870,000
1
66
21,368
21,368
$602
Description
The Reno Terrace Apartments are a 66-unit property positioned between Koreatown, Silver Lake, and MacArthur Park, with terrific access to Downtown and the rest of Los Angeles! It is rare to find an asset of this size and vintage for the area. This investment is priced at a current 5.61% Cap Rate and 11.03 GRM, with projected rental upside of about 20% for a new owner! The 66 units are comprised of nearly all Studio units and (1) 1 Bed / 1 Bath (with den) unit. The building has a pool in the central...The Reno Terrace Apartments are a 66-unit property positioned between Koreatown, Silver Lake, and MacArthur Park, with terrific access to Downtown and the rest of Los Angeles! It is rare to find an asset of this size and vintage for the area. This investment is priced at a current 5.61% Cap Rate and 11.03 GRM, with projected rental upside of about 20% for a new owner! The 66 units are comprised of nearly all Studio units and (1) 1 Bed / 1 Bath (with den) unit. The building has a pool in the central courtyard as well as parking for 33 cars. Units include gas stoves and heaters (master metered for all utilities) and all units have patios for tenants to enjoy. Soft-story seismic retrofit work has also been finished. With a walk score of 89, the property is surrounded by terrific amenities, allowing tenants to accomplish most errands and daily tasks on foot, cutting down on the need for parking. Transit options are also exceptional, with terrific access to bus stops and metro rail lines.
- Listed by Josh Cohen • DRE #01346713 • Brokerage DRE #01368364 • Keller Williams Beach Cities • 310-480-2130
Property Details for 245 South Reno Street
Parking Spaces Total
33
Private PoolNo
Total Units66.0
Building TypeAttached
Lot Size SourceAssessor
Living Area21368
Assessor Parcel Number5155-006-027
Property Attached YNtrue
Location
LISTING UPDATED: 05/25/2024 01:53 PM
Property Details for 245 South Reno Street
Status | Active |
---|---|
MLS # | SB24098260 |
Days on Market | 31 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1964 |
County | Los Angeles County |
Location
Building Information for 245 South Reno Street
Building/Complex245 S Reno StFloor-Stories2Residences-Pet Policy-Year Built1964Building Size-
Payment Calculator
$82,389 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 245 South Reno Street
Property History for 245 South Reno Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 245 South Reno Street
Taxable ValueLand$9,460,606Additions$2,390,939Total$11,851,545
Tax Record2023$145,826 ($12,152 / month)
Home Facts
Total Finished SqFt21,368 SqFtAbove Grade Finished SqFt21,368 SqFtLot Size18,978 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLARD1.5CountyLOS ANGELESAPN5155-006-027
Schools near 245 South Reno Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Commonwealth Avenue Elementary School PublicK to 5 | ||
Virgil Middle School Public6 to 8 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 | ||
Academic Leadership Community School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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