3031 W Olympic Blvd
Los Angeles, CA 90006
Multifamily Property For Sale
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14 Units
Property Facts
About 3031 W OLYMPIC BLVD , LOS ANGELES, CA 90006
POTENTIAL RENT ROLL attached From 2- 5 Floor ,there are 3 units on each level. 2-4 TH FLOOR- 2 UNITS OF 2 BED/ 2BATH ( 763 SQFT, 705 SQFT )/ 1 ( 1 BED/ 1 BATH ( 551 SQFT) )UNIT 5TH FLOOR- 2 UNITS OF 2 BED/2 BATH (763 SQFT, 679 SQFT) / 1 (STUDIO (418 SQFT) ) UNIT On the 6 Floor, there are 2 units of 2 BED/ 2 BATH (763 SQFT, 735 SQFT) Total Unit 14 $6,800.00 $50,500 $606,000 Gross Income $50,500 $606,000 OpEx ( Roughly 25%) $151,500 NET INCOME $454,500 Return on Cost 5.6% Re-Sale (5.6 CAP ) $80000000 Return on Sale $2,350,000 Estimated Construction Costs HARD COST $3250000 SOFT COST $200000 TOTAL SOFT/ HARD COSTS $3450000 FINANCING COST TBD LAND PURCHASE $2,200,000 TOTAL PROJECT COST $5,650,000 Proforma Cap Rate 8 %
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,600 | - |
| 1+1 | 4 | $2,100 | - |
| 2+2 | 9 | $2,650 | - |
Property Taxes
| Parcel Number | 5080-032-009 | Improvements Assessment | $328,093 |
| Land Assessment | $1,968,561 | Total Assessment | $2,296,654 |
Property Taxes
