About 1100 S Corning St
8520 Whitworth Dr is a highly coveted Pico Robertson submarket, located just west of S La Cienega Blvd between W Olympic Blvd and W Pico Blvd, a premier Los Angeles neighborhood that attracts high-end renters with a consistently low vacancy rate and steady rent growth.The 2017 high quality construction is not subject to the Los Angeles Rent Stabilization Ordinance; the property totals 9,993 SF with seven spacious units that are all two-bedrooms (1,100-1,200 SF); there is one level of subterranean parking and one level of ground floor parking with 14 spaces total.Units have a condo feel each with a large patio and balconies, in-unit washers and dryers, fireplaces, recessed lighting, custom cabinets, and high-quality kitchens and bathrooms, and central air; the two units on the top floor feature vaulted ceilings.The building is currently fully occupied with strong in-place income; however, there is 18% rental upside achievable over time as units turn.There is a significant affordability gap between renting and home ownership in the neighborhood; within two miles of the subject property, the median home value is over $1 MM; the average household income within two miles of the property is $124,520.The Pico-Robertson neighborhood is an established Los Angeles community known for providing an array of amenities within a half-mile radius, the property has a walk score of 86 and is close proximity to S La Cienega, W Pico, and W Olympic Blvd with high-end retail options for residents.
