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6 Units+Plans 6 ADUs 5.5% Cap upside to 10%+ 1323 E Adams Blvd 6 Unit Apartment Building $1,190,000 ($198,333/Unit) 5.50% Cap Rate Los Angeles, CA 90011
INVESTMENT HIGHLIGHTS
- Stable cash flow from day 1 with a 5.5% Cap Rate, increasing to an impressive 10.6% Cap on Proforma
- Recently renovated units featuring updated kitchens, bathrooms, cabinets, flooring, exterior upgrades, newer roof, and new windows
- Plans for 6 ADUs to achieve 12.4% Current Cap Rate, 15.6% Proforma Cap, and only 154k/unit after construction costs
- Prime location near Downtown LA, USC, BMO Stadium, George Lucas' Museum, and Exposition Park, with the 2028 Olympics in sight
EXECUTIVE SUMMARY
2nd Price Reduction! 6-unit value-add building with 12 parking spaces cash flowing at a 5.5% Cap Rate from day 1 with upside to a 10.6% Cap on Proforma! Almost RTI plans to add 6 detached ADUs to achieve an incredible 12.4% Current Cap Rate, 15.6% Proforma Cap, and only 154k/unit after taking into account all the construction costs (~670k assuming $250/SF). 3 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, new windows for all units, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Prime location just minutes away from Downtown LA, USC, BMO Stadium, George Lucas' Billion Dollar Museum, and Exposition Park where 2028 Olympics will be held!
PROPERTY FACTS
| Price | $1,190,000 | Apartment Style | Low-Rise |
| Price Per Unit | $198,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.50% | Building Size | 4,706 SF |
| Gross Rent Multiplier | 12.4 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1924 |
| Property Type | Multifamily | Parking Ratio | 3.52/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LARD1.5 | ||
| Price | $1,190,000 |
| Price Per Unit | $198,333 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 12.4 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,706 SF |
| No. Stories | 2 |
| Year Built | 1924 |
| Parking Ratio | 3.52/1,000 SF |
| Zoning | LARD1.5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 1+1 | 5 | - | - |
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 5118-009-019 | Improvements Assessment | $111,550 |
| Land Assessment | $479,670 | Total Assessment | $591,220 |
PROPERTY TAXES
Parcel Number
5118-009-019
Land Assessment
$479,670
Improvements Assessment
$111,550
Total Assessment
$591,220
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6 Units+Plans 6 ADUs 5.5% Cap upside to 10%+ | 1323 E Adams Blvd
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