Iconic Investments is proud to present The Nest Apartments, located at 2241 W. 14th Street, featuring a total of 5,768 SF of rentable improvements on a 7,504 SF lot. Located in the heart of the high-demand Pico-Union neighborhood, just south of Pico Blvd. and east of Westmoreland Ave., this 10-unit apartment building offers an opportunity for both stabilized cash flow and future upside. Built in 1954, The Nest Apartments benefits from a desirable unit mix of all 1-bed/1-bath units, offering secured access, parking, laundry room, and an efficient layout that appeals to the area’s strong tenant base.
Units are separately metered for both gas and electric, and each unit has their own water heater. New ownership can implement a RUBS program to recapture water/sewer, common area electricity and waste removal. Submarkets like Pico-Union benefit from the Section 8 voucher program allowing landlords the ability to capture rents at or above market levels.
With a vibrant, largely working-class tenant base, this area has long experienced strong rental demand and minimal vacancy. Vacancy rates typically hover between 4-6%, and turnover is relatively low due to the neighborhood’s affordability and accessibility.
