2255 W 14TH

The Middleton Apartments is a value-add property with 30 apartment units. Situated along 14th Street, the property was built in 1912 of wood-frame stucco and offers 6 Studios and 24 Studios plus a bonus room. Thirteen of the units have been remodeled with flooring, kitchen cabinets, countertops, updated bathrooms, fixtures and lighting. A Buyer will have the opportunity to remodel the remaining 17 units as they become vacant.The building has a new 600amp main electrical panel located in the rear of the property. The renovated units have been rewired from the main panel, subpanels with the units were added, and the individual units rewired. Those units are now sub-metered and individually metered for electricity the remaining seventeen units are still master-metered. As units become vacant a new Buyer can continue to sub-meter units to reduce utility costs. The building is master metered for gas. Other improvements include updating of the hallways and common areas, and exterior paint. Middleton Apartments is in very close proximity to Downtown Los Angeles' South Park District, Mid-City, USC and Koreatown. With a central location sandwiched between Downtown Los Angeles and Koreatown it's only a matter of time before this submarket begins to blossom and gentrify.