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645 W 97th St 3 Unit Apartment Building $1,425,000 ($475,000/Unit) 8.25% Cap Rate Los Angeles, CA 90044
Investment Highlights
- No Rent Control: 2020 construction asset not subject to rent control, allowing for full operational flexibility and the ability to achieve market rent
- Front Home Delivered Vacant: Spacious front residence with attached two-car garage delivered vacant, providing immediate owner-user potential
- Seller financing may be available to qualified buyers
- Strong Unit Mix: Rare offering of all four-bedroom/three-bath units, including a 1,700 SF front home and two 1,561 SF duplex units
- Modern Finishes & Amenities: Open-concept layouts with white shaker cabinetry, tile backsplashes, custom bathrooms, in-unit laundry, HVAC
Executive Summary
SELLER FINANCING AVAILABLE
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.
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.
Property Facts
| Price | $1,425,000 | Apartment Style | Low-Rise |
| Price Per Unit | $475,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 8.25% | Building Size | 4,990 SF |
| Gross Rent Multiplier | 9.56 | Average Occupancy | 67% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Parking Ratio | 0.6/1,000 SF |
| Price | $1,425,000 |
| Price Per Unit | $475,000 |
| Sale Type | Investment |
| Cap Rate | 8.25% |
| Gross Rent Multiplier | 9.56 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 4,990 SF |
| Average Occupancy | 67% |
| No. Stories | 2 |
| Year Built | 2020 |
| Parking Ratio | 0.6/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3 | 3 | $4,161 | 1,561 - 1,700 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 6054-027-027 | Improvements Assessment | $437,456 |
| Land Assessment | $1,037,868 | Total Assessment | $1,475,324 |
Property Taxes
Parcel Number
6054-027-027
Land Assessment
$1,037,868
Improvements Assessment
$437,456
Total Assessment
$1,475,324
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645 W 97th St