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930-932 Fraser Ave 18 Unit Apartment Building $1,700,000 ($94,444/Unit) 9.60% Cap Rate Los Angeles, CA 90022
EXECUTIVE SUMMARY
WOW! True 9.6% Cap Rate!!! We are pleased to present for sale the "Fraser Flats" a newly renovated & 100% fully leased multifamily opportunity located in the heart of East LA! The subject property consists of a front duplex with two 1 bd/1 ba units and 16 SRO style units (16 single rooms with 3 shared baths + 4 toilets for the community + communal kitchen). The property was completed gutted by the current owner who spent over $400,000 in upgrades including brand new HVAC, new Roof, Plumbing, Electrical, Flooring, Paint, Furniture & more! This location offers residents a quick commute to Downtown Los Angeles and is a Walker's Paradise with a walk Score of 93! The property is only steps away from dining and shopping on Whittier Blvd with several public transportation options nearby. Current rents yield an impressive annual gross income of ~$218,000 yielding an impressive GRM of just 7.8 and an unheard cap rate of 9.6%!!! There is an additional 20% upside in rents. Each SRO unit is fully equipped with a queen-sized bed, full sized stainless-steel refrigerator and stainless-steel microwave. Shared space for showering and doing laundry all conveniently near your apartment home. Bathrooms are separate from your apartment home but are private and in the community. The front duplex is comprised of two 1 BD/1 BA units that are tenant occupied and under RSO. Do not miss this opportunity to purchase a CASH COW located in a high rental demand neighborhood of Los Angeles! Do not disturb current tenants, showings with an accepted offer only. Call for more details or to inquire about attractive financing opportunities, under 6% interest rate. WILL NOT LAST!!
PROPERTY FACTS
| Price | $1,700,000 | Property Subtype | Apartment |
| Price Per Unit | $94,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 9.60% | Building Size | 4,631 SF |
| Gross Rent Multiplier | 7.8 | No. Stories | 2 |
| No. Units | 18 | Year Built | 1929 |
| Property Type | Multifamily | ||
| Zoning | LCP* - Transient Lodging | ||
| Price | $1,700,000 |
| Price Per Unit | $94,444 |
| Sale Type | Investment |
| Cap Rate | 9.60% |
| Gross Rent Multiplier | 7.8 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,631 SF |
| No. Stories | 2 |
| Year Built | 1929 |
| Zoning | LCP* - Transient Lodging |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | 150 - 158 |
| 1+1 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 5245-004-020 | Improvements Assessment | $681,932 |
| Land Assessment | $454,621 | Total Assessment | $1,136,553 |
PROPERTY TAXES
Parcel Number
5245-004-020
Land Assessment
$454,621
Improvements Assessment
$681,932
Total Assessment
$1,136,553
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930-932 Fraser Ave
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