4106-4108 Palmwood Drive Los Angeles, CA 90008 Palisades Partners II, LLC $235,000
4106-4108 Palmwood Drive in Los Angeles, California, is a 1950's two story wood frame and stucco multi-family apartment complex.The building consists of 10 one bedroom, one bath units, with an average square footage of 705 square feet.There are six units inside the 4106 Palmwood entrance and four units inside the 4108 entrance. Each entrance has an inside stairway to the second level. There is an attached 7 car secured carport in the rear of the Property accessible from the alley that runs behind the Property.
The Property was purchased in April 2009.
Situated on an 8,102 square foot lot (.186 acres) fronting Palmwood Drive, the Property is located just outside of downtown Los Angeles in the Baldwin Hills area and is on the same street as 4028 Palmwood which is owned by Palisades Partners I, LLC.
The Property is located in the thriving Los Angeles apartment market, just minutes outside of the downtown Central Business District in the Baldwin Hills area near the Crenshaw Plaza shopping mall. The historically positive population growth is compounded by the significant barrier to entry for multi-family construction in the area, creating strong demand for viable rental units.All primary market indicators, including low vacancy, rent growth, lack of new development and continued population growth favor the continued prosperity of existing multi-family product in the Baldwin Hills submarket of Los Angeles.
PROPERTY: A ten (10) unit apartment building and attached 7 car secured carport located at 4106-4108 Palmwood Drive, Los Angeles, CA 90008
PURPOSE: To acquire and hold for investment the Property.
OWNERSHIP: PALISADES PARTNERS II, LLC, a California limited liability company.
PURCHASE OF PROPERTY: The Property was purchased in April 2009.