Description
Built in 1963, this fourplex totals 3,296 SF and is located in Mid-City, just south of Washington Blvd. The building features a unit mix of one one-bedroom and three two-bedroom apartments with laundry in each unit. This offering presents an investor the opportunity to acquire a value-add asset with 61% rental upside and a pro forma CAP rate of 7.29% after renovations when the units turn. The property is being offered at a low price per square foot of $311 and a low price per unit of $256,250. Ease of management as gas and electric are separately metered. Furthermore, there are 8 parking spaces total, four in the front and four in the back. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10.
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8BEDS
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0.13ACRES
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0BATHS
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01/2 BATHS
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3,296SQFT
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$311$/SQFT
School Ratings & Info
Description
Built in 1963, this fourplex totals 3,296 SF and is located in Mid-City, just south of Washington Blvd. The building features a unit mix of one one-bedroom and three two-bedroom apartments with laundry in each unit. This offering presents an investor the opportunity to acquire a value-add asset with 61% rental upside and a pro forma CAP rate of 7.29% after renovations when the units turn. The property is being offered at a low price per square foot of $311 and a low price per unit of $256,250. Ease of management as gas and electric are separately metered. Furthermore, there are 8 parking spaces total, four in the front and four in the back. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-12T10:42:42.117. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.