Ray Kappe Architectural Multi-Unit Building

Ray Kappe FAIA – 1958 – The work of Kappe is considered by some to be an extension of the earlier SoCal modern architects like Frank Lloyd Wright, Richard Neutra & RudolphSchindler. This modernist complex was built not long after Kappe gained hands on experience as a draftsman for Eichler Homes and eventually working under renowned architect Carl Maston. The one of a kind apartment complex exhibits a classic mid-century modern aesthetic. Located at the base of the red-hot market in Baldwin Hills Estates, this eight-unit complex was built on a concrete block foundation and includes a secure entry from the alley. The spacious ground floor units feature 10ft high ceilings with their own private enclosed patios. Six of the eight total units have been updated with features such as new flooring, upgraded bathrooms, granite counter tops, and upgraded kitchens with premium fixtures/appliances.  Several of the units have fantastic views of Downtown Los Angeles and Beverly Hills from their private balconies.  The complex is made up of three separate structures located on a large hillside lot with a possibility to create an owner-unit on the property.  Four double-car enclosed garages are securely accessed by tenants through the alley.  Nearby Baldwin Hills is booming with new development and centrally located, making this Ray Kappe property an excellent opportunity to benefit from the surrounding growth.

Featured Notes:

• Parking: 8 Total Spaces (Four Double Car Garages)
• Utilities: Master Metered for water; separately metered for electric and gas
• Construction: 2-story wood frame/stucco over Concrete Block tuck-under parking
• Electrical/Plumbing/Roof: Upgraded wiring to copper, systems are functioning, roofs are new
• Great unit mix of 75% Two-Bedroom units
• Large Upgraded units with Private Patios
• Approximately 28% upside in current rents
• New Roof on all 3 buildings, new exterior paint, new water heater, new mainline sewer, new fencing
• 6 of 8 units remodeled
• Views of Downtown LA & Beverly Hills