4,900 SF cash flow positive multifamily opportunity, consisting of 4 apartment units set on a 5,315 SF lot. This 2-story building has significant upside potential by increasing below market rents. Property needs light cosmetic upgrades and repairs and presents an excellent opportunity for a buyer looking to bring it to its full potential. The buildings central location and proximity to major thoroughfares and the 110 FWY makes it ideal for an investor looking for diverse tenancy mix. The subject property is located 2.5 miles from USC campus and 1.8 miles from Exposition Park. Current CAP rate of 5.1% with upside in market rents expected with the right operator. Unit mix includes one 3/2, one 3/1, one 6/2 and one 4/2 with 6 car parking lot and laundry room onsite. Total of 16 BD's and 7 BA's. Covered parking for each unit is securely located at the sides of the property. Building is fully gated and secured and currently 100% tenant occupied on long term month-to-month basis.
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Listing courtesy of Avenue Homes, Dani Behr, DRE: 01948711
Listing ID:CRMLS-19514404

Amenities

General Information

Directions: Vermont Avenue to 60th Street

Number Of Units Total: 4

Parcel Number: 6004028030

Special Listing Conditions: Standard

Interior Features

Cooling Details: Central Air

Cooling: Yes

Heating Details: Central

Heating: Yes

Exterior Features and Amenities

Parking Features: Parking Space

Parking: Yes

Zoning: LAC2

Business Related

Number Of Buildings: Yes

Acreage/Farms Related

Lot Size Source: Assessor

Expense Information

Gross Income: 74305.00

Gross Multiplier: 13.43

Gross Operating Income: 74305.00

Net Operating Income: 50964.00

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