Marcus & Millichap is pleased to present 25615 Western Ave, a 18unit apartment building located in Harbor City, a neighborhood in Los Angeles County California. Built in 1962, the property consists of (10) one-bedroom + one-bathroom units and (8) two-bedroom + one bathroom units. The building is 12,730 gross square… Read More feet and sits on a 14,167 square foot lot. The property is subject to the city of Los Angeles Rent Stabilization Ordinance (RSO).25615 Western Ave is located less than 2 miles from Rolling Hills Plaza, offering residents easy access to a wide range of retail, dining, and entertainment choices. The property is also just 1 mile from Ken Malloy Harbor Regional Park, one of the largest parks in all of Los Angeles County, which gives residents the opportunity to enjoy numerous outdoor activities. Harbor City provides quick access to major freeways such as the 110 and the Pacific Coast Highway(PCH), making it easy to commute to downtown Los Angeles, Long Beach, or other areas of SouthernCalifornia.25615 Western Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers an initial CAP rate of 5.02% with the ability to improve to a 10.34% CAP rate once units turnover. Read Less
Property listed by Marcus & Millichap, Michael Sterman 818-212-2700
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Beds
24
Square Ft.
12,730
Lot Size
0.33 Acres
Year Built
1962
MLS Number
24463691
30 Days Snapshot Of 90717
$773k
-19%
(avg) sold price
15
+15%
homes sold
85
+26%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1962, Building area total: 12,730, Levels: MultiSplit, Living area: 12730, 1 building
Cooling
WallWindowUnits
Heating
Radiant
Income
Gross income: $275,503, Net operating income: $140,878
Lot
0.3253 acres, 14,170 square feet, Size: 14,170
Parking
Covered
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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