Great Value Add with 79% Upside 2241 W 14th St Immeuble residentiel 10 lots 1 168 155 € (116 815 €/Lot) Taux de capitalisation 5,19 % Los Angeles, CA 90006

Iconic Investments, as exclusive advisors, are pleased to present the Nest Apartments. Located in the heart of the high-demand Pico-Union neighborhood, just south of Pico Boulevard and east of Westmoreland Avenue, this 10-unit apartment building at 2241 W 14th Street offers an opportunity for both stabilized cash flow and future upside. Built in 1954, The Nest Apartments feature a total of 5,768 square feet of rentable improvements on a 7,504-square-foot lot. With a well-balanced unit mix of ten (10) one-bedroom, one-bathroom apartments, the building provides an efficient layout that appeals to the area’s strong tenant base.
Each unit has its own water heater and is individually metered for both gas and electricity. This setup reduces the owner’s operating expenses and helps shield against rising utility costs. The Nest Apartments are exceptionally well-suited for Section 8 tenants. The one-bedroom layout aligns perfectly with the demand for voucher programs, and owners benefit from the stability of government-backed rental payments. Additionally, many Section 8 leases in Pico-Union are now achieving rental rates at or even above market levels.

Pico-Union is one of Los Angeles’s most densely populated and historically significant neighborhoods. It sits immediately west of Downtown Los Angeles and benefits from its central location, close proximity to Koreatown, and access to major transportation corridors, including the 10 and 110 freeways. With a vibrant, largely working-class tenant base, this area has long experienced strong rental demand and low vacancy rates. Vacancy rates typically hover between 4% and 6%, and turnover is relatively low due to the neighborhood’s affordability and accessibility.