The Acresite Apartments are five units of 2 and 3 bedrooms located a stone’s throw from the Los Angeles River Recreation Zone. Built in 1965 and situated on a 10,078 SF lot, the property boasts a total of 4,898 SF and has been owned by the same family for more than 30 years. One 3 bed + 2 bath apartment was recently renovated and rented for $2,199/month, demonstrating the tremendous upside potential for this property.
The Acresite Apartments have separate gas and electric meters, separate hot water heaters and a laundry room. In addition, there is ample open parking of 10 spaces. The property has been professionally managed for the past few years and two units have been renovated, while the other three have long term tenants. The Atwater Village neighborhood is one of the most prized rental locations in Northeast Los Angeles, and located just east of the LA River between Fletcher and Glendale Blvd, this location can’t be beat!