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$10,750,000
Est. payment /mo
58,700 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 58,700 sqft
Price per Sqft $183
MLS Listing ID CL25545553
HOA Y/N No
Year Built 1983
Lot Size 1.418 Acres
Acres 1.42
Property Sub-Type Other
Property Description
321 Tremont Street spans approximately 58,700 square feet across five two-story buildings and sits on a 61,768 SF leasehold lot. Built in 1983, the property features a highly desirable unit mix of (10) 1-Bed/1-Bath, (37) 2-Bed/2-Bath, and (15) 3-Bed/2-Bath units. Community amenities include on-site laundry, a children's playground, and shared open-air gathering areas. The property is 100% occupied with a tenant waitlist exceeding 30 years and receives full rent collections through a HUD HAP contract offering investors guaranteed income, minimal management, and strong retention. With annual rent escalations and five-year market rent resets, the asset offers long-term upside with stable in-place cash flow. Positioned in one of Southern California's most supply-constrained and sought-after rental markets, 321 Tremont presents a rare opportunity to acquire an institutional-quality multifamily asset with reliable returns in a uniquely irreplaceable coastal location.
Location
State CA
County Los Angeles
Zoning AVU
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 7480002071
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Listed by Tony Azzi • Tony Azzi
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