±4,900 SQ FT cash flow positive multifamily opportunity, consisting of 4 apartment units set on a 5,315 SQ FT lot. This 2-story building has significant upside potential by increasing below market rents. Property needs light cosmetic upgrades and minor repairs and presents an excellent opportunity for a buyer looking to bring the property to its full potential.
The buildings central location and proximity to major thoroughfares and the 110 FWY makes it ideal for an investor looking for diverse tenancy mix. The subject property is located 2.5 miles from USC campus and 1.8 miles from Exposition Park which includes not only the world-renowned LA Memorial Coliseum, but also, the newly built George Lucas Films Museum, and is a 15-minute drive from DTLA.
Current CAP rate of 5.1% with upside in market rents expected with the right operator. Unit mix includes one 3/2, one 3/1, one 6/2 and one 4/2 with 6 car parking lot and onsite laundry room. Total of 16 bedrooms and 7 bathrooms. Covered parking for each unit is securely located at the sides of the property. Building is fully gated and secured. Currently 100% tenant occupied on long term month-to-month basis.
All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information and estimations should be independently reviewed and verified for accuracy. Due diligence is buyer responsibility.
