2204 W Slauson Ave, Los Angeles, CA 90043

Slauson Manor Apartments is a vacant 9-unit building adjacent to the Crenshaw Boulevard commercial corridor. Slauson Manor Apartments is not subject to LA City rent control and provides an opportunity to either lease-up and enjoy immediate cash-flow or make cosmetic upgrades to unit interiors to achieve higher rents. Cap rates are approximately 100 basis points higher in the greater Inglewood submarket than Los Angeles as a whole, offering a potential stabilized yield of over 10%. The submarkets rent levels are below the metro-wide average and is consequently one of the few areas that have experienced rent growth since the start of the pandemic, with a YoY increase of 1.7% from 2019 to 2020. As the economy returns to pre-pandemic levels and rents continue to rise, the buildings non rent-controlled status will allow the operator to increase rents at a rate that keeps pace with the market. Built in 1981, the 6,050 square-foot courtyard-style building