1902 Wellington Road
Los Angeles, CA 90016 ·
6 Units · Multifamily For Sale
Multifamily Property For Sale
|No. Units||6||Gross Rent Multiplier||10.50|
|Building Size||4,550 SF||No. Stories||2|
|Property Type||Multifamily||Year Built||1957|
|Property Sub-type||Garden/Low-Rise||Lot Size||14,113 SF|
|Property Use Type||Investment||APN / Parcel ID||5061-001-015|
|Listing ID: 18040991||Date Created: 02/21/2013||Last Updated: 08/02/2013|
McAlpin & Company is pleased to announce a huge price reduction on this six unit investment opportunity in a quiet residential pocket of Los Angeles known as Wellington Square. Wellington Square is located between the 10 Freeway and Washington Boulevards at the edge of the West Adams district. The subject property is one of only a handful of apartment complexes in the area. This asset is priced to sell at only 10.5 GRM and an attractive CAP rate of 6.26%. The complex consists of one 4,550 square foot building on a corner lot of over 14,000 square feet. Five of the units have two bedrooms with one bath and Unit #2 has two bedrooms with two baths. There is covered parking and plenty of open space for tenant enjoyment. With a few cosmetic improvements there is plenty of upside for a new owner. According to Building & Safety up to 17 units can be built there (check w/city). PLEASE DO NOT DISTURB TENANTS.
Between 10 Freeway and Washington Blvd.
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