Found a boarded up apartment complex in pico rivera CA

5 Replies

Curious if anyone on here does investing in apartment complext in the Los Angeles area. I found a boarded up apartment complex added it to Deal Machine app. Ive seemed to always find trouble skip tracing an LLC im still new to this but any information is greatly appreciated or if somone is interested in the property. The apartment complex is located near shopping centers so i know it potentially can be good one lol

@Edwin Martinez There's a reason why it's boarded-up. I would consider a property in most parts of Pico Rivera a Specialty Property class. Meaning this isn't your typical investment property that any investor can acquire and profit smooth sailing. This area will require someone with experience in the C- and D class property space. If it's in the better area of Pico, it's probably worth taking a look into why it's now boarded-up. Could have just been a bad owner/management team. 

When you says it's near a shopping center, Are you saying near a center like the Pico Rivera Towne Center or more like one of the many old small strip centers in Pico Rivera? If it's near the Towne Center, there may have been an owner/management issue and there's an opportunity. 

I currently do not invest in LA, I haven't been able to find any good deals and all the deals that are brought to me don't fit my investment criteria.

How many  Units is this complex?   

@Edwin Martinez

To piggy off what @Ray Johnson mentioned is that there is a reason why it's boarded up most of the time meaning that this is a very distressed property. I don't know this area by any means, but if you aren't experienced or know someone who could help you partner on this deal I would steer clear because there is much more risk and time involved getting a non performing asset profitable. This could potentially be a wholesale deal if you have the network and wanted to go that route. If you are seeing population/job growth along with new development in the market, it might be something so look into. Me personally I look for value add deals that are already performing that will allow me to increase the valuation so the property will trade at a higher multiple on the exit. This strategy will help mitigate your risk on the front end. Best of Luck and I hope this helps. God bless!

@Ray Johnson multiple shopping centers on the main street. Not like a mall or somthin

Idk how many units

I just saw it put in the deal machine app got minimal info from there

Last sale date 2015 for $4.3M

Somone that lives in the area told me it was one of most ghetto apartments. Had craziest tenants. But its on a main street in front all shopping centers i though it may be something for somone to pursue. I dont care to make money on it just bringing it to see if somone is willi g to pursue i just want the opportunity to see the process honestly.