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Leeward Apartments 2910 Leeward Ave 30 Unit Apartment Building $3,750,000 ($125,000/Unit) 6.50% Cap Rate Los Angeles, CA 90005
EXECUTIVE SUMMARY
Both Properties are wood frame and stucco and are individually metered for Gas & Electric. 2-Building Portfolio Sale Located at 2910 Leeward Ave & 2809 8th Street in Prime Mid-Wilshire. This is an incredible opportunity to own two adjacent properties, separate APN's, totaling 54 units. 2910 Leeward Ave is a 30-unit with a mix of two bedrooms, one bedrooms, and singles. 2809 8th Street is a 24-unit building with all singles. Together, both buildings combine for 35,910 rentable square feet and sit on a combined 17,385 square foot lot zoned LAR4, Opportunity Zone. The units are large in size and extremely clean with upgrades. Please do not disturb the tenants. All showings will be subject to an accepted offer.
PROPERTY FACTS
| Price | $3,750,000 | Property Subtype | Apartment |
| Price Per Unit | $125,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.50% | Lot Size | 0.26 AC |
| Sale Condition | 1031 Exchange | Building Size | 22,620 SF |
| Gross Rent Multiplier | 8.24 | No. Stories | 3 |
| No. Units | 30 | Year Built | 1924 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Zoning | R4, Los Angeles | ||
| Price | $3,750,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.24 |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 22,620 SF |
| No. Stories | 3 |
| Year Built | 1924 |
| Opportunity Zone |
Yes |
| Zoning | R4, Los Angeles |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Security System
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | - | 564 |
| 1+1 | 15 | - | 574 |
| 2+1 | 5 | - | 750 |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (83)
PROPERTY TAXES
| Parcel Number | 5077-019-011 | Improvements Assessment | $977,162 |
| Land Assessment | $3,025,997 | Total Assessment | $4,003,159 |
PROPERTY TAXES
Parcel Number
5077-019-011
Land Assessment
$3,025,997
Improvements Assessment
$977,162
Total Assessment
$4,003,159
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Leeward Apartments | 2910 Leeward Ave
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