925 W 84th St 7 Unit Apartment Building $1,100,000 ($157,143/Unit) 8.17% Cap Rate Los Angeles, CA 90044

ASSET
7-unit apartment located in Los Angeles. The property is comprised of (one) 3-bedroom/1-bathroom house and (six) 1-bedroom/1-bathroom units. Situated on a large 9,066-SF lot, the property is zoned LAR3 with a Tier 3 TOC (Transit Orient Communities), which allows for the development of up to 20 units*. Given the TO3 Tier 3 allowance, subterranean parking is not required, and a developer is only responsible for 0.5 parking spaces per unit. The large lot presents an outstanding opportunity to develop up to 20 units* or to add ADUs in a dense rental market of Los Angeles.

LOCATION
This 4,620-SF apartment is located approximately 3 miles from SoFi Stadium, The Forum, Youtube Theatre and the Intuit Dome (NBA Clippers Arena). The asset is located just a few blocks from Vermont Avenue and Manchester Boulevard, which provides tenants with an abundance of retail shops, restaurants, entertainment, and grocery stores.

FINANCIALS
The asset contains strong in-place rents with a current cap rate of 8.17% and current GRM of 8.59. Offered at a 10.95% pro-forma cap rate and 6.89 pro-forma GRM, 925 W. 84th Street has rents which are +/- 25% below market. The property is being offered at $157,143 per unit and $238 per square foot.

*Please do not disturb tenants. Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property.