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5917 Converse Ave - 5917 Converse Ave, Los Angeles, CA 90001 4 Unit Apartment Building Offered at $650,000 at a 9.69% Cap Rate Los Angeles, CA 90001
Investment Highlights
- Two-Property, 8-Unit Portfolio: Opportunity to acquire two separate 4-unit multifamily properties in Florence-Graham
- Attractive In-Place & Stabilized Economics: Offered at $162,500 per unit and $234 per foot
- Large Lots & High Density R3 Zoning Provide Additional Upside via ADU and Redevelopment Potential
- Significant Rental Upside: $91,000+ in additional annual rental income potential through rent stabilization
- Convenient access to the I-110, I-105, I-710, Metro rail, Downtown Los Angeles, and major employment centers throughout Los Angeles County
- Residential Financing Available
Executive Summary
SGV+ Multifamily Group of Compass Commercial Inc., as the Exclusive Listing Agent, is proud to present 5917 Converse Avenue and 1905 E 78th Street — a two-property multifamily portfolio consisting of two separate 4-unit properties located in the Florence-Graham neighborhood of Unincorporated Los Angeles.
The Florence-Graham neighborhood is a strongly renter-oriented market, with more than 65% of occupied housing units being renter-occupied. Strategically positioned near the I-110, I-105, and I-710 freeways, the portfolio offers convenient access to major employment centers throughout Los Angeles County.
Downtown Los Angeles is approximately 6 miles north, providing access to one of the region's largest employment hubs. Tenants also benefit from proximity to the Florence Metro Station, providing rail connectivity to Downtown Los Angeles and Downtown Long Beach. Numerous grocery stores, big-box retailers, neighborhood shops, restaurants, schools, parks, and other daily-needs amenities are located throughout the surrounding area.
5917 Converse Avenue offers approximately 2,550 SF of rentable living area across two separate structures situated on a generous 8,457 SF lot. The property consists of four 1-bedroom/1-bathroom units, averaging approximately 638 SF per unit.
The property is currently generating just over $38,000 in annual rental income, equivalent to approximately $789 per unit per month. An investor familiar with prevailing market rents for comparable units in the surrounding area will recognize a significant opportunity to increase revenue, with the potential to capture more than $1,000 of additional monthly rental income per unit.
Upon stabilization, the property offers the potential to achieve an approximately 9.69% CAP Rate and 7.47 GRM.
The Florence-Graham neighborhood is a strongly renter-oriented market, with more than 65% of occupied housing units being renter-occupied. Strategically positioned near the I-110, I-105, and I-710 freeways, the portfolio offers convenient access to major employment centers throughout Los Angeles County.
Downtown Los Angeles is approximately 6 miles north, providing access to one of the region's largest employment hubs. Tenants also benefit from proximity to the Florence Metro Station, providing rail connectivity to Downtown Los Angeles and Downtown Long Beach. Numerous grocery stores, big-box retailers, neighborhood shops, restaurants, schools, parks, and other daily-needs amenities are located throughout the surrounding area.
5917 Converse Avenue offers approximately 2,550 SF of rentable living area across two separate structures situated on a generous 8,457 SF lot. The property consists of four 1-bedroom/1-bathroom units, averaging approximately 638 SF per unit.
The property is currently generating just over $38,000 in annual rental income, equivalent to approximately $789 per unit per month. An investor familiar with prevailing market rents for comparable units in the surrounding area will recognize a significant opportunity to increase revenue, with the potential to capture more than $1,000 of additional monthly rental income per unit.
Upon stabilization, the property offers the potential to achieve an approximately 9.69% CAP Rate and 7.47 GRM.
Property Facts
Amenities
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $780.00 | 638 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
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5917 Converse Ave - 5917 Converse Ave, Los Angeles, CA 90001