1241 Dunsmuir
1241-1251 S Dunsmuir was acquired in an off-market transaction in June 2022. This property features two adjacent buildings, each with eight units and constructed in 1948. Each building offers approximately 6,000 square feet of space across a mix of 1 and 2 bedroom units. Previously under-managed and held by the same owner for many years, the property was purchased in a state of disrepair. Significant upgrades were undertaken during the roughly 24 month re-positioning process including plumbing improvements, new electrical service, and a cosmetic overhaul. Additionally, four new construction Accessory Dwelling Units (ADUs) were added, a welcome addition to the supply constricted local market. Ownership now settles in for a long-term hold to capitalize on potential rent growth and the added value from the ADUs, while contributing to the housing needs of Los Angeles.
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