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2202-2208 Michigan Ave
Los Angeles, CA 90033
Michigan Heights Apartments · Multifamily Property For Sale
·
28 Units
Investment Highlights
- Meticulously Renovated Property with ±$500,000 Spent on Recent Capital Improvements
- Excellent Location | Only One-Block from Highly Amenitized Retail Corridors on Cesar Chavez Blvd and Soto Street
- 7.10% Pro Forma CAP Rate & ±19% Rental Upside
- Preferred Unit Mix Consisting of Mostly Large 2-Bedroom Units
- NOT Subject to Los Angeles’ Rent Stabilization Ordinance - Higher Allowable Rent Increases under the Provisions of AB 1482
- Centrally Located with Convenient Access to I-10, I-5, I-60 & 101 Freeways with a Multitude of Amenities Nearby
Property Facts
| No. Units | 28 | Building Size | 22,154 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1985 |
| Building Class | C | Parking Ratio | 0.9/1,000 SF |
| Lot Size | 0.51 AC | ||
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling | ||
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 22,154 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 0.9/1,000 SF |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Kitchen
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Gated
- Grill
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,465 | 450 |
| 2+1 | 25 | $1,904 | 885 |
Property Taxes
| Parcel Number | 5183-005-051 | Improvements Assessment | $2,601,000 |
| Land Assessment | $4,161,600 | Total Assessment | $6,762,600 |
Property Taxes
Parcel Number
5183-005-051
Land Assessment
$4,161,600
Improvements Assessment
$2,601,000
Total Assessment
$6,762,600
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