939 W College, Los Angeles, CA 90012

PRICED BELOW REPLACEMENT COST! 29-Unit Value-Add Opportunity by DODGER STADIUM w/ Panoramic DTLA Views, High-Upside Asset (76% Rental Upside), 1972s Construction, Seller May Carry 1st Trust Deed. 939 W College St., a 29-unit value-add apartment community by the Dodger Stadium area, within the Solano Canyon neighborhood. This value-add apartment investment was built in 1972 and offers an excellent location just within walking distance to the Dodger Stadium, Elysian Park, and just minutes away to Downtown Los Angeles, Chinatown, Little Tokyo, and all the shopping and lifestyle options in those areas. The property was solidly constructed with steel and concrete construction and offered at a very low price per unit and low price per square foot for its location and asset quality. Value-Add Potential The property is primed for aggressive repositioning. With current rents approximately 76% below market and all tenants on month-to-month leases, a new operator can capture the loss-to-lease upon unit turnover (subject to City of Los Angeles RSO). The Pro Forma analysis projects a stabilization Cap Rate of nearly 9.74%, making this a premier hedge against inflation. To facilitate a smooth transaction, the long-term owner (nearly 30 years) may be open for a Seller Carry Financing (1st TD 3year term - IO) for a qualified buyer with strong financials (40% down payment required). The property is a podium style 4-story apartment that was built in 1972, has a large 22,677 SF building size, and situated on a 12,171 SF LA-R4 zoned lot. It is a secured building with gated parking, has a cent