RENTAL INCOME: $398,892.00 per year / $33,241.00 per month - CURRENT CAP RATE 5.3 % / CURRENT GRM 9.5 Excellent opportunity to acquire a 26-unit apartment building in the Downtown L.A. area just south of the 10 Freeway. This 3-story, 16,152 sq. ft. building resides on an 8,823 sq. ft.… Read More corner lot which consists of thirteen 1 bed/1bath units and thirteen studios. The building is currently generating $398,892.00 per year in rental income. Tremendous upside potential that is perfect for the investor looking to add more units to their portfolio at a low $146,154.00 cost per door / $235.26 cost per square foot. The building is well taken care of and all units are mastered metered allowing for 6% yearly rental increases. The property is located several blocks south of the 10 Freeway on an excellent and quiet stretch of Maple Ave and directly across the street from the Santee Education Complex. Excellent on-site management and the asset is positioned in the northwest area in the 90011 zip code 1.5 miles from the Crypto.com Arena. Large 1,000 sq. ft. plus basement that can potentially be used as laundry area. PRO FORMA CAP RATE 6.7 % / PRO FORMA GRM 7.9 Read Less
Property listed by Ashby & Graff, Billy Rojas 310-856-9153
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
13
Square Ft.
16,152
Lot Size
0.2 Acres
Year Built
1911
MLS Number
25507787
30 Days Snapshot Of 90011
$550k
-5%
(avg) sold price
1
-80%
home sold
46
-49%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1911, Building area total: 16,152, Levels: ThreeOrMore, Living area: 16152, 1 building
Community
Gated
Cooling
None
Income
Gross income: $398,892, Net operating income: $202,025
Lot
0.2025 acres, 8,823 square feet, Size: 8,823
Parking
None
Property
Zoning: LAC2
Security Features
GatedCommunity
Tenant Pays
CableTv
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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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