2202 Michigan Avenue

+ Meticulously Renovated Property with ±$500,000 Spent on Recent Capital Improvements

+ Preferred Unit Mix Consisting of Mostly Large 2-Bedroom Units

+ Excellent Location | Only One-Block from Highly Amenitized Retail Corridors on Cesar Chavez Blvd and Soto Street

+ NOT Subject to Los Angeles’ Rent Stabilization Ordinance – Higher Allowable Rent Increases under the Provisions of AB 1482

+ 6.98% Pro Forma CAP Rate & ±19% Rental Upside

+ Centrally Located with Convenient Access to I-10, I-5, I-60 & 101 Freeways with a Multitude of Amenities Nearby

+ New Owner will Benefit from Strong Day-1 Income – 5.50% Current CAP Rate & 12.01 GRM

+ Assumable Financing Available

Property Description

CBRE, Inc., as exclusive advisor, is proud to present an exceptional opportunity to acquire a well-maintained, 28-unit apartment complex at 2202 Michigan Avenue. This ±22,154 SF building sits on a ±22,386 SF lot and is situated between N Chicago Street and N Soto Street on Michigan Avenue. This vibrant location positions your investment at the heart of it all. Residents enjoy convenient access to Downtown Los Angeles, the L.A. Live entertainment complex, USC Health Sciences Campus, Dodger Stadium, and much more. Major freeways (10, 5, 60, and 101) are minutes away, along with a vibrant mix of shopping centers, restaurants, museums, and retailers. The property also sits one-block away from highly amenitized retail corrodidors on Ceasar Chavez Boulevard and Soto Street. This prime location isn’t just about convenience; it’s about capitalizing on a booming market. Los Angeles, the entertainment capital, experiences high demand for quality rentals. The property sits amidst a thriving working class with a steady need for well-maintained housing and easy access to major employers. 2202 Michigan Avenue offers the perfect blend of value and income potential. This well-maintained property features desirable amenities like lush landscaping, controlled entry gate, on-site parking, laundry facilities, pet-friendly dog run, and BBQ communal area. Individual units boast security doors, kitchens with dishwashers and stainless steel appliances, air conditioning, ceiling fans, and vertical blinds. With low vacancy rates and consistent rental income, 2202 Michigan Avenue is a secure long-term investment ideal for any investor seeking a strong return. This opportunity caters to a wide range – first-time purchasers, seasoned investors, and those seeking a 1031 exchange – providing a win-win scenario.