Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
1514 South Cochran Avenue . Mid City , CA 90019
Huge 500k Price Reduction! Value-Add 12 Unit building with 4 Fully Renovated vacancies in the highly coveted Mid-City area priced at only 282k/door.For more information contact the listing agents Armin Soleimani arminsoleimani@gmail.com 310 666-2246 julio ruiz ziuroiluj@gmail.com 310.666.2246
Posted: 02/18/2023 5:30 pm
| On HOMEiZ: 439 days |
Updated: 8 months ago
| Views: 563
Location Map
Property Type
Sold
Property Price
$2830602
$2830602
08/22/2023
12,330.00
Sq. Ft.
$309
9166
2.5%
4.5%
$228468
$127377
12.00
1.25%
$35383
Property Location & Description
Huge 500k Price Reduction! Value-Add 12 Unit building with 4 Fully Renovated vacancies in the highly coveted Mid-City area priced at only 282k/door.For more information contact the listing agents Armin Soleimani arminsoleimani@gmail.com 310 666-2246 julio ruiz ziuroiluj@gmail.com 310.666.2246
Rent Control
Amazing Current Cap Rate of 4.5% and 14.8 GRM with an incredible 85% upside to 9.9% Cap Rate and 8.0 GRM on the proforma. The property features a diverse unit mix consisting of 8 Large (1bed/1bath) and 4 (2bed/1bath) units. The 4 vacant units have been fully remodeled with permits and boast new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, and a washer/dryer inside. All units are Individually metered for gas & electricity. The 9,166 SF of improvements sits on a large 12,230 double lot with parking in the back. Preliminary plans to add 3 attached ADUs in Carport + 2 detached ADUs.
Solid 85 walk score, easy access to public transit, and freeways, situated minutes from The Grove, Beverly Center, Cedars-Sinai as well as the upcoming UCLA hospital and other major developments. In addition to the solid fundamentals, the property offers a new owner over 85% in achievable income upside potential. This amazing 12-unit multi-family investment property has undergone major exterior improvements as well and has been well maintained and cared for with a stable income stream ready to be taken to the next level!
12
$235884
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
1+1
8
$1575
2.
2+1
4
$1609
3.
4.
5.
5070-012-056
LARD1.5 (Multifamily)
75%
2
1957
Very good
Amazing Current Cap Rate of 4.5% and 14.8 GRM with an incredible 85% upside to 9.9% Cap Rate and 8.0 GRM on the proforma.
Diverse Unit Mix consisting of 8 Large (1bed/1bath) and 4 (2bed/1bath) units.
Individually metered for Gas & Electricity.
Preliminary plans to add 3 attached ADUs in Carport + 2 detached ADUs.
Large 12,230 SF double lot with parking in the back.
12 Unit building with 4 fully renovated vacancies in prime Mid-City area priced at only $291k/door.
Property Information
Sewer
Sewer System (Public)
Parking
Off-street
On-street
Assigned Parking
12
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
https://offmarketexperts.com/menlo-5
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