| Type: | Multifamily Mid/High-Rise |
| No. Units: | 40 |
| Building Size: | 19,107 SF |
| Lot Size: | 6,360 SF |
| Occupancy: | 92.00% |
| Price: | $2,600,000 |
| Price/Unit: | $65,000 |
| GRM: | 8.73 |
| Cap Rate: | 6.17% |
| Year Built: | 1929 |
Property Description:
This is a 39 unit (and one non-conforming unit) apartment building. Constructed of reinforced brick in 1929, the building features a newly painted brick and masonry façade. The property is currently undergoing a cosmetic upgrade with eighteen of the units converted from large studios to junior one-bedrooms. The studios range from approximately 425 510 square feet and the junior one-bedrooms are approximately 510 square feet. New hard wood floors have been installed in the hallways giving the interior a charming 1920' s feel. The building is 19,107 square feet +/- and sits on 6,360 +/- square feet of land. Twenty-two of the units are separately metered for electric, with the remaining master-metered for both gas and electric. Though the building is subject to Los Angeles rent control, there is approximately a 30% upside potential in gross income.
Net Operating Income:$160,420
No Debt & Equity Information Provided
Onsite Laundry
| Close to Metro and Bus Lines |
Large Studios Upgraded to Junior One-Bedrooms
Currently Undergoing Cosmetic Upgrade
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