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2335 Miramar St 8 Unit Apartment Building $1,100,000 ($137,500/Unit) 5.50% Cap Rate Los Angeles, CA 90057
Investment Highlights
- Very Unique Unit Layout - Vaulted celings
- Approximately 58% in Rental Up-Side Through Renovation Plan
- Separately Metered for Gas and Electric
- Amazing Unit Mix Composed of Singles and One Bedroom Units!
- Property Offers On-Site Laundry Facilities and Parking for Tenants
Executive Summary
8 unit multifamily property in Westlake composed of six singles and two one bedroom units. Property offered clear rental upside with two vacant units at time of marketing and projected NOI growth through renovation and stabilization. The asset presents repositioning potential in a highly walkable, transit connected corridor near Downtown Los Angeles, Koreatown, and Silver Lake.
Property Facts
| Price | $1,100,000 | Property Subtype | Apartment |
| Price Per Unit | $137,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.50% | Lot Size | 0.16 AC |
| Gross Rent Multiplier | 10.5 | Building Size | 4,424 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1929 |
| Zoning | LAR3 | ||
| Price | $1,100,000 |
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 10.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,424 SF |
| No. Stories | 2 |
| Year Built | 1929 |
| Zoning | LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $8,168 | 500 - 600 |
| 1+1 | 2 | $3,104 | 500 - 600 |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (75)
Property Taxes
| Parcel Number | 5154-012-011 | Improvements Assessment | $72,235 |
| Land Assessment | $525,398 | Total Assessment | $597,633 |
Property Taxes
Parcel Number
5154-012-011
Land Assessment
$525,398
Improvements Assessment
$72,235
Total Assessment
$597,633
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