CBRE Inc., as exclusive advisor to the Seller, is proud to present the Capulet Apartments at 722 Hartford Ave. in Los Angeles.
The Capulet is a 27-unit apartment building featuring a mix of studio and 1-bedroom units. Current ownership has completed an exhaustive renovation of the common areas and turnover units, implementing RUBS utility reimbursement and strong property management. Tenants enjoy period architectural touches, renovated kitchens and baths, and exposed brick walls. A common laundry room and a private patio in rear add convenience and a high-level tenant experience. Two one-bedroom ADUs are approved and permit-ready in the front basement area. Plans are available in the Virtual Deal Room and present an opportunity to add new revenue and equity immediately upon completion.
Additionally, ownership has successfully demonstrated that the front corner units can easily be converted from studios to junior 1-bedrooms. Units 106, 202, 206 and 406 (studios currently) offer potential for conversion and higher rent upon turnover.
Located in the Westlake/City West area, the Capulet sits in a dynamic and historic area currently undergoing significant revitalization. This location offers convenient access to public transportation with the 7th Street/Metro Center and Westlake/Macarthur Park stations nearby and provides easy access to the Red and Purple subway lines for navigating the city. The neighborhood is also in close proximity to cultural attractions like LA Live and the Staples Center, as well as green spaces such as MacArthur Park Lake, Vista Hermosa Natural Park, and Echo Park Lake. The ongoing revitalization efforts suggest a neighborhood on the rise, making 722 Hartford Ave. an attractive location for those seeking a mix of urban convenience and historic character.
The proximity to downtown Los Angeles also significantly expands access to employment opportunities, cultural institutions, and a wider range of amenities. Downtown LA, a major employment hub and easily accessible from Westlake, opens doors to a diverse job market encompassing various industries, from finance and technology to arts and entertainment.
Please visit www.722hartford.com to view the Offering Memorandum and Virtual Deal Room.