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501-507 S Carondelet St
Los Angeles, CA 90057
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Value add 8-unit apartment building in MacArthur Park with approximately 31% upside in rent. Two of the units are vacant and will be delivered vacant
- Building feat copper plumbing throughout (vertical/horizontal replaced within last 10 years), roofs replaced w/in last 10 years, indivl water heaters
- Excellent unit mix: two (2) studio/one-bathroom units and six (6) one-bedroom/one-bathroom units
- Low price per foot ($199.76/sf) and unit ($163,750/unit) and excellent financial metrics: Cap Rate – 5.13% (current)/8.69% (proforma) and GRM – 11.77
- Units feature spacious layouts with a lot of windows creating natural light, wood floors, front/back doors, large closets
- Walk Score of 96: close proximity to trendy retail, restaurants and cafes on Wilshire Boulevard and 6th Street
Property Facts
| No. Units | 8 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 6,558 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1923 |
| Building Class | C | ||
| Zoning | LAR4 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,558 SF |
| No. Stories | 2 |
| Year Built | 1923 |
| Zoning | LAR4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 6 | - | - |
Property Taxes
| Parcel Number | 5155-029-001 | Improvements Assessment | $122,400 |
| Land Assessment | $1,173,000 | Total Assessment | $1,295,400 |
Property Taxes
Parcel Number
5155-029-001
Land Assessment
$1,173,000
Improvements Assessment
$122,400
Total Assessment
$1,295,400
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