Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
2176 Venice Boulevard . Los Angeles , CA 90006
For sale 14 Unit Apartment Building 5.50% Cap Rate Los Angeles, CA. For more information contact the listing agent ,Listed by Julio Ruiz •DRE #01911261 • Global Platinum Properties, Inc. •310.666.2246 (agent) •ziuroiluj@gmail.com (agent)
Posted: 06/24/2023 7:46 pm
| On HOMEiZ: 319 days |
Updated: 3 weeks ago
| Views: 634
Location Map
Property Type
Available
Property Price
$3650000
$
N/A
0.23
Acres
$422
8640
2.5%
5.50%
$0
$200750
12.63
1.25%
$45625
Property Location & Description
For sale 14 Unit Apartment Building 5.50% Cap Rate Los Angeles, CA. For more information contact the listing agent ,Listed by Julio Ruiz •DRE #01911261 • Global Platinum Properties, Inc. •310.666.2246 (agent) •ziuroiluj@gmail.com (agent)
Rent Control
Price drop alert! This is the deal you've been waiting for - a value-add 14-unit building with an unbelievable $200k price reduction! And what's even better? 4 of the units have already been fully renovated with permits and are ready to rent out. Located in prime Mid City, this property comes at only $213k per door, making it too good to pass up. With a remarkable Current Cap Rate of 5.5% and 12.6 GRM and an incredible 59% upside potential to a 10% Cap Rate and 7.9 GRM on proforma, you simply cannot afford to miss out on this opportunity. Plus, each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to twelve cars and requires no soft-story retrofitting. Preliminary plans have already been drafted to add three attached ADUs in the garages as well as two detached ADUs over the carport - adding even more income-generating potential!
And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being close proximity to major freeways ensuring smooth travel times within Los Angeles city limits... Don't wait another moment-grab this rare opportunity before it slips away!
14
$260714
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
0+1
1
2.
1+1
12
3.
3+1
1
4.
5.
5074-018-025
C1-1VL-HPOZ-CPIO
71%
Wood & Stucco
2
1963
Good
14 Unit value-add deal in prime Mid-City cash flowing at 5.5%Cap Rate & 12.63 GRM from Day 1.
14 Unit value-add deal in prime Mid-City cash flowing at 5.5%Cap Rate & 12.63 GRM from Day 1.
Preliminary plans to add 3 attached ADUs in the garages + 2 detached ADUs over the carport.
Priced at only 213k/door with an incredible upside to 10% Cap Rate and 7.9 GRM on the proforma.
Individually metered for Gas & Electricity.
Large 10,015.9 SF lot with parking.
Property Information
Sewer
Sewer System (Public)
Parking
Off-street
Assigned Parking
10
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
Neighborhood lifestyle
Urban Core
More information
https://offmarketexperts.com
Listing Presented by
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