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$ 3,490,000
Est. payment | /mo
7,553 Sqft Lot
$ 3,490,000
Est. payment | /mo
7,553 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25581195
HOA Y/N No
Year Built 1961
Lot Size 7,553 Sqft
Property Description
* Renovated 10-unit, 2-story apartment building in West Los Angeles with 15 parking spaces updated with brand-new plumbing, electrical and windows *In-place cap rate of 6.36%, with below market assumable financing at 3.35% fixed for the next two years, providing an investor with positive leverage and immediate cash-on-cash of 13.08% * Consistent unit mix of 10 one-bedroom floorplans, with one unit boasting its own private terrace * An astute buyer can capture additional upside by adding 2 ADUs in the existing parking lot * All units are equipped with newly refinished hardwood floors, large closets, wall HVAC, stainless steel appliances, updated bath and kitchens, and in-unit washers and dryers * Submarket occupancy averaged 96.6% over the past five years * Submarket asking rents expected to rise 21% over the next two years * The average household income within a three-mile radius is $164,324
Location
State CA
County Los Angeles
Area C13 - Palms - Mar Vista
Zoning LAR3
Interior
Fireplace No
Exterior
Total Parking Spaces 15
Building
Story 2
Others
Tax ID 4214022021
Special Listing Condition Standard
Listed by Dominic Guan Colliers International Greater Los Angeles, Inc.