7.47% CAP & 10.07 GRM w/ No Rent Control 645 W 97th St 3 Unit Apartment Building $1,490,000 ($496,667/Unit) 7.84% Cap Rate Los Angeles, CA 90044

Marcus & Millichap is pleased to present to market 645 West 97th Street, a 2020 construction home and duplex on one lot in South Los Angeles. This property presents a rare opportunity to acquire a non-rent controlled asset with all four-bedroom/three-bath units. Furthermore, the front home will be delivered vacant, offering a new investor the opportunity to either owner-occupy or lease at market rate.
The front home boasts a spacious 1,700-square foot floor plan with an attached two-car garage, and the rear duplex features side-by-side units with 1,561-square foot floor plans. All units feature open-concept living areas, spacious primary suites with walk-in closets, and cohesive modern finishes. Interior highlights include white shaker cabinetry, tile backsplashes, stainless steel range hoods, custom-tiled bathrooms, durable laminate flooring in common areas, and carpeting in bedrooms. All units include individual HVAC systems, in-unit laundry, and custom window coverings. The units are separately metered for all utilities, keeping owner expenses at a minimum.
Located in South Los Angeles west of the 110 Freeway, the asset benefits from strong rental demand drivers, nearby schools and retail amenities, and ongoing area development.