- For Sale $6,750,000
- Property Type Multi-Family
- Property Size 8,840 SF
- Units 22
- Parking Spaces Avail. 8
- Parking Ratio 0.90 / 1,000 SF
- Year Built 1963
- Date Updated Oct 21, 2026
Description
22 Newly Renovated Residences
Gutted Down to the Studs
22 Units
2026 Gut Renovation
Tier 4 SAFMR Section 8
18 Studios
3 One-Bedrooms
1 Two-Bedrooms
PartnersCRE is proud to present for sale this exquisitely renovated Off-Market 22 Unit Multi-Residential property.
Located in a highly desirable area of Mid-Wilshire, sitting at the intersection of Olympic Blvd. and Ridgeley Drive, this 8,840 SF building was built in 1963 but fully remodeled in the last year, with no expense spared!
Designated Tier 4 SAFMR Section 8, in a High TCAC Opportunity Area and sitting in a Difficult Development Area, and that is without considering the HPOZ, there is a very high barrier to entry here with limited upcoming supply.
The 18 Studios range from 110 to 204 SF, with Tier 4 Rents at $2,849.
The 3 One Bedrooms are around 450 SF, with Tier 4 Rents at $3,190.
The 1 Two Bedroom is around 884 SF, with Tier 4 Rents at $4,026.
This property is well suited for Affordable Housing Buyers, Mission-Driven Non-Profits, and (among others) Investors pursuing Project-Based Voucher contracts and/or acquisition-rehabilitation tax-credit financing! The property does not have a Covenant.
Only two units currently rented (with long-term tenants).
The building is walking distance to several hospitals and medical centers, about half a mile to Wilshire Blvd. and San Vicente, both with commercial areas. Walk Score calls the area Very Walkable with Good Transit, and Very Bikeable. There are 8 semi-subterranean parking spots.
Some of the many upgrades done to the building:
Individual Energy-Efficient Mini-Split Heating and Air Conditioning Systems in Each Unit
Fully Remodeled Kitchens with Modern Cabinetry, Stone/Quartz-style Countertops, and Stainless Steel Appliances
Updated Bathrooms with Contemporary Fixtures and Tile Work
New Ceramic Tile Flooring, Recessed LED Lighting, and Fresh Interior Finishes Throughout
Modernized Electrical Panels and Updated Plumbing Fixtures
Upgraded life-safety systems: Smoke/CO Detectors, Keyless Code/Card Access, Exterior Security Lighting
Dedicated Laundry Facilities
Full List of Upgrades Available
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Contacts
Partners CRE
Partners CRE
