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3535 Los Flores Blvd 6 Unit Apartment Building $1,075,000 ($179,167/Unit) 5.82% Cap Rate Lynwood, CA 90262
INVESTMENT HIGHLIGHTS
- Six 1 bed/1 bath units in the city of Lynwood - Four unit single story building in the front and a two unit over garages in the rear
- One unit delivered vacant that is rent ready
- Lynwood does not have municipal rent control - subject to AB-1482 allowing for higher rent increases
- Strong cash flow day one at a 10 GRM and 5.82% cap rate - 23% upside in rents to achieve a pro forma 8% cap rate
- Two out of the six subpanels have been replaced
- Opportunity to convert storage space below back building back into garages or convert into two ADU's
EXECUTIVE SUMMARY
Young Lewin Advisors is pleased to present 3535 Los Flores Blvd, a six-unit apartment building in the city of Lynwood to market. The property features a desirable layout consisting of a single-story four-unit building in the front, complemented by a two-unit structure situated above garages in the rear. One unit is currently vacant and rent ready.
The asset offers strong cash flow from day one, operating at a 10.0 GRM and a 5.82% cap rate, with approximately 23% rental upside available. Achieving market rents would elevate the property to a pro forma 8% cap rate. Recent upgrades include the replacement of two of the six electrical subpanels, along with new individual water heaters installed for each unit.
Lynwood does not impose municipal rent control and is instead governed under AB-1482, allowing for higher annual rent increases compared to nearby cities.
Currently, the garage spaces beneath the rear building have been converted into individual storage units for tenants, offering flexible future use. A new owner may choose to restore them to functional garages, continue generating income through storage rentals, or convert the space into two ADUs to further increase revenue.
The asset offers strong cash flow from day one, operating at a 10.0 GRM and a 5.82% cap rate, with approximately 23% rental upside available. Achieving market rents would elevate the property to a pro forma 8% cap rate. Recent upgrades include the replacement of two of the six electrical subpanels, along with new individual water heaters installed for each unit.
Lynwood does not impose municipal rent control and is instead governed under AB-1482, allowing for higher annual rent increases compared to nearby cities.
Currently, the garage spaces beneath the rear building have been converted into individual storage units for tenants, offering flexible future use. A new owner may choose to restore them to functional garages, continue generating income through storage rentals, or convert the space into two ADUs to further increase revenue.
PROPERTY FACTS
| Price | $1,075,000 | Property Subtype | Apartment |
| Price Per Unit | $179,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.82% | Building Size | 3,617 SF |
| Gross Rent Multiplier | 10.04 | No. Stories | 1 |
| No. Units | 6 | Year Built | 1948 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Zoning | R-3 - Multi-Family Residential | ||
| Price | $1,075,000 |
| Price Per Unit | $179,167 |
| Sale Type | Investment |
| Cap Rate | 5.82% |
| Gross Rent Multiplier | 10.04 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 3,617 SF |
| No. Stories | 1 |
| Year Built | 1948 |
| Opportunity Zone |
Yes |
| Zoning | R-3 - Multi-Family Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,435 | - |
1 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 6191-014-020 | Improvements Assessment | $481,787 |
| Land Assessment | $742,845 | Total Assessment | $1,224,632 |
PROPERTY TAXES
Parcel Number
6191-014-020
Land Assessment
$742,845
Improvements Assessment
$481,787
Total Assessment
$1,224,632
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3535 Los Flores Blvd
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