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1130 W 97th St
Los Angeles, CA 90044
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Solid South LA Location
- Subpanels and Electrical Boxes Have Been Updated Within the Past 6 Months
- On-Site Laundry Room
- Strong Initial Return - 7.20% Cap Rate
- All Section 8 Tenants
- Full On-Site Parking Available
Executive Summary
Marcus and Millichap is pleased to present a six (6) unit apartment building located at 1130 W 97th St in Los Angeles, California. The subject property is located in a solid South LA location, north of Century Blvd and west of Vermont Ave.
Located in a solid South LA neighborhood, the property features a desirable unit mix of four one-bedroom and two two-bedroom units. The asset offers a strong initial cap rate with approximately 20% rental upside. Some capital improvements include updated subpanels and electrical boxes within the past 6 months. Amenities include a front-yard common area, laundry room, and rear onsite parking with potential to add ADUs. The location provides convenient access to major commercial corridors such as Century Blvd, Normandie Ave, Vermont Ave, and Western Ave. Residents benefit from nearby amenities including the Mark Twain Branch Library, Weingart YMCA Center, Maggie Hathaway Golf Course, Ralphs, Smart & Final, Roscoe’s Chicken & Waffles, and South LA Cafe. The area is also seeing new multifamily development, including projects at 9426 S Normandie Ave (57 units), 823 W Manchester Ave (42 units), and 11001 S Vermont Ave (84 units).
A strong initial cap rate combined with the potential to add ADUs in the rear parking lot presents investors with a compelling value-add opportunity in a South LA submarket that continues to see new development, improving amenities, and steady housing demand.
For OM, please visit: https://www.lamultifamilydeals.com/properties/1130-w-97th-st
Located in a solid South LA neighborhood, the property features a desirable unit mix of four one-bedroom and two two-bedroom units. The asset offers a strong initial cap rate with approximately 20% rental upside. Some capital improvements include updated subpanels and electrical boxes within the past 6 months. Amenities include a front-yard common area, laundry room, and rear onsite parking with potential to add ADUs. The location provides convenient access to major commercial corridors such as Century Blvd, Normandie Ave, Vermont Ave, and Western Ave. Residents benefit from nearby amenities including the Mark Twain Branch Library, Weingart YMCA Center, Maggie Hathaway Golf Course, Ralphs, Smart & Final, Roscoe’s Chicken & Waffles, and South LA Cafe. The area is also seeing new multifamily development, including projects at 9426 S Normandie Ave (57 units), 823 W Manchester Ave (42 units), and 11001 S Vermont Ave (84 units).
A strong initial cap rate combined with the potential to add ADUs in the rear parking lot presents investors with a compelling value-add opportunity in a South LA submarket that continues to see new development, improving amenities, and steady housing demand.
For OM, please visit: https://www.lamultifamilydeals.com/properties/1130-w-97th-st
Property Facts
| Price Per Unit | $183,333 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.20% | Lot Size | 0.15 AC |
| Gross Rent Multiplier | 8.48 | Building Size | 4,266 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | ||
| Zoning | LCR32OU | ||
| Price Per Unit | $183,333 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| Gross Rent Multiplier | 8.48 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,266 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Zoning | LCR32OU |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 650 |
| 2+1 | 1 | - | 750 |
| 2+2 | 1 | - | 916 |
Property Taxes
| Parcel Number | 6056-015-041 | Improvements Assessment | $121,705 |
| Land Assessment | $448,405 | Total Assessment | $570,110 |
Property Taxes
Parcel Number
6056-015-041
Land Assessment
$448,405
Improvements Assessment
$121,705
Total Assessment
$570,110
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