16-u Chinatown, 3.35% Assumable Loan 770 N Hill Pl

ASSUMABLE 3.35% Interest Rate, 7-yr Fixed until Aug-Sep 2028.
Growth Investment Group California is proud to offer 770 N Hill Place, a 16-unit apartment community in the heart of Chinatown neighborhood of Los Angeles. This semi value-add apartment investment is in an excellent location just within walking distance of various iconic places such as Olvera Street, Union Station, downtown Los Angeles, great eateries, restaurants, bars and art galleries. This offering provides an exceptional opportunity for investors to acquire a solid apartment that has undergone many capital improvements in a high demand and central location just a block from DTLA Core. Current loan is assumable at 3.35% fixed until Aug-Sep 2028 (buyer to verify during due diligence period).
The property is a 3-story apartment that was built in 1965 and situated on ±10,428 SF R4 zoned lot. Total building size is ±10,880 SF. It has a central courtyard that’s complete with hanging led lightings and ping pong table, and laundry area (seller owns laundry machines). It offers a diversified unit mix of one (1) x 3bedroom + 1bathroom, two (2) x 2bedroom + 1bathroom, one (1) x 2bedroom+1bathroom, and twelve (12) x 1bedroom + 1bathroom. Eleven (11) out of sixteen (16) units have been completely upgraded with high-end upgrades. The building has undergone other major capital improvements such as parking soft-story retrofit completed, new double pane windows in upgraded units, new exterior paint, new fence, new wood fence on the side, new façade, and others. The property offers ample parking spaces with 15 parking spaces (5 tandem) and 5 tuck-under parking totaling 20 parking spaces.
Residents/tenants are minutes from the neighborhood's best shopping plazas, open air markets and outdoor cafes. The property is in the heart of the iconic Chinatown of Los Angeles. Chinatown offers great eateries, restaurants, and art exhibits. It is located a short 5-minute walk to Union Station for easy transiting around the Los Angeles area. It has superb access to the FWY 101, FWY 110, FWY 5 and FWY 10. The property is nearby many newly constructed luxury apartment communities such as JIA at Chinatown, La Village Plaza, Orsini, Yale Street Apartment, etc. It is located minutes away to Walt Disney Concert Hall, The Music Center, The Broad, Grand Central Market, Staples Center, and almost all attraction downtown Los Angeles has to offer!