Los Angeles (City), CA 90024
A rare offering in Westwood's North Village, 523 Glenrock represents an incredible opportunity to own in one of LA's most in-demand rental markets. Consistent student tenant turnover and an extremely supply-constrained market combine to yield some of the highest rent/SF numbers found in the City. 523 Glenrock features fantastic in-place income with significant rental upside potential. With a low gross rent multiplier of 19.02, 523 Glenrock is not only a fantastic long-term hold, but a viable immediate cash flow option. Units are mostly original, meaning a focused renovation plan could produce materially higher income and a higher cap rate in relatively short order. The large 8,132 SF lot is zoned [Q]R4-1VL, which also provides a buyer the potential to develop or sell for land value in the future.
Robert Renshaw with REMAX COMMERCIAL & INVESTMENT REALTY
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