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6024 Monterey Rd
Los Angeles, CA 90042
$680K Reduction on 14 Units Built In 1995 · Multifamily Property For Sale
·
14 Units
Investment Highlights
- Located 0.6 miles from Figueroa Blvd, which is home to a eclectic retailers, charming cafes, art galleries, and beloved dining options
- Ample side-by-side covered and uncovered parking spaces with the potential to add two or more ADUs (buyer to verify)
- Approx. 30% rental upside, and at the listed price, stabilizes at a 7.01% CAP and 10.17 GRM with projected market rents
- Built-in 1995, the property currently allows for an 8.8% annual rent increase
- Featuring (4) 2-bdrm. units and (10) 1-bdrm. units offered at $263,929 per unit and $417 per foot
- Renovated units include new windows, wood-laminate flooring, granite countertops, and updated appliances and cabinetry
Property Facts
| No. Units | 14 | Building Size | 8,854 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1995 |
| Building Class | C | Parking Ratio | 2.48/1,000 SF |
| Lot Size | 0.27 AC | ||
| Zoning | LARD1.5 - Residential | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 8,854 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1995 |
| Parking Ratio | 2.48/1,000 SF |
| Zoning | LARD1.5 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Granite Countertops
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $1,950 | - |
| 2+1 | 2 | $1,853 | - |
| 1+1 | 10 | $1,600 | - |
Property Taxes
| Parcel Number | 5312-027-025 | Improvements Assessment | $1,189,083 |
| Land Assessment | $1,225,859 | Total Assessment | $2,414,942 |
Property Taxes
Parcel Number
5312-027-025
Land Assessment
$1,225,859
Improvements Assessment
$1,189,083
Total Assessment
$2,414,942
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