The Virtia is a 9 unit property in south Los Angeles. Most of the units are 3 bedrooms and 2 bedrooms, which are in short supply in the area.

We acquired this property directly from the seller, by offering him a quick, simple closing. The income on this property is 35% below that which can be achieved through improved operations. We’re currently working on repositioning the property. Our long term plan is to strategically refinance the property, and hold it for the long term. Depending on market conditions, we’ll explore a sale and 1031 exchange.