For sale 10 units apartment building in Los Angeles, California. For more information on this listing please contact the listing agent, Glen Scher 818-212-2808 Glen.Scher@marcusmillichap.com

Posted: 11/22/2021 12:59 pm | On HOMEiZ: 884 days | Updated: 2 years ago | Views: 446

Location Map

Property Type

Property status

Sold

Property Price

Asking Price

$2475000

Last Sold Price

$2475000

Last Sold Date

11/22/2021

Total Lot Size

10,500.00 Sq. Ft.

Asking Price per Sq. Ft.

$315

Total Building Size Sq. Ft.

7861

Commission Split %

2.0%

Cap Rate %

5.27%

Gross Annual Income

Net Operating Income

$130432

Gross Rent Multiplier

12.25

Operating Expenses

Annual Property Tax Rate for this property

1.25%

Property tax total amount

$30938

Property Location & Description

Listing Headline

For sale 10 units apartment building in Los Angeles, California. For more information on this listing please contact the listing agent, Glen Scher 818-212-2808 Glen.Scher@marcusmillichap.com

Rent control

Rent Control

Property Description

The 7,861 square foot property sits on a double lot that measures 10,500 square feet and with a very attractive unit mix of all 2 Bedroom / 1 Bathroom units, making it perfect for families and/or tenants living with roommates. The property also provides ample on-site parking for tenants in the rear of the building. The property is currently 100% occupied and with all Section 8 tenants, providing the investor with strong, secure cash flow which can be hard to come by in this post-pandemic era!

Location Description

Close to all major freeways.

No. of Units

Price per Unit

$247500

Units Mix

No.

Description

No. Units

Sq. Ft.

Avg. Mo. Rent

2+1

$1239

$2018

APN / Parcel ID

6040-025-004

Zoning

LARD1.5

Occupancy %

100%

Construction Type

Wood & Stucco

No. Stories

Year Built

1964

Overall Property Condition

Good

Highlights

Attractive Mix of All 2 Bedrooms

Huge Opportunity for ADU’s

Significant Upside in Rents

All Units Section 8

Ample On-Site Parking

Proximate to Major Freeways

Property Information

Sewer

Type of Sewer

Sewer System (Public)

Parking

Parking type

Off-street

On-street

Assigned Parking

# of Covered Parkings

Investment Overview

Type of use

Investor

Energy Efficiency

Energy Star Certified

How old is you cooling and heating system?

No Data

Efficiency rating

N/A

R-value

N/A

Windows single-pane?

Natural daylight

Appliances energy efficient

Roof

Neighborhood lifestyle

Lifestyle

Urban Core

More information

MLS URL of this listing to link to your own site or brokerage site

Listing Info

Listing ID: 2958

Sold

For Sale

$2,475,000

Listing Presented by

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343 West 89th Street . South Los Angeles , CA 90003