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3994-3997 S Harvard Blvd 25 Unit Apartment Building $6,475,000 ($259,000/Unit) 4.47% Cap Rate Los Angeles, CA 90062
INVESTMENT HIGHLIGHTS
- ASSUMABLE LOAN AT 3.45% Terrific Cash flow
EXECUTIVE SUMMARY
Introducing a rare opportunity ASSUMABLE LOAN AT 3.45%!. Own a piece of Los Angeles history: a 25-unit Art Deco apartment complex built in 1923, located at 3994-3997 S Harvard Blvd. 90062. This preserved historical building is only one mile from USC and BMO stadium. There is a generous mix of one and two bedroom units distributed through seven housing structures on a generous 28,777 sq ft lot. The property is eligible for both the State and National registry of Historical Buildings which gives significant financial incentives including property tax reduction through the Mills Act and federal income tax credits. The property also includes convenient on-site parking with 7 enclosed garages and an additional 14 open parking spots.
PROPERTY FACTS
| Price | $6,475,000 | Apartment Style | Garden |
| Price Per Unit | $259,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.47% | Building Size | 22,236 SF |
| Gross Rent Multiplier | 13.02 | No. Stories | 2 |
| No. Units | 25 | Year Built | 1923 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LAR2 | ||
| Price | $6,475,000 |
| Price Per Unit | $259,000 |
| Sale Type | Investment |
| Cap Rate | 4.47% |
| Gross Rent Multiplier | 13.02 |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 22,236 SF |
| No. Stories | 2 |
| Year Built | 1923 |
| Opportunity Zone |
Yes |
| Zoning | LAR2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 25 | - | - |
1 1
Walk Score®
Very Walkable (84)
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3994-3997 S Harvard Blvd
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