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Est. payment | /mo
11,853 SqFt
$ 2,000,000
Est. payment | /mo
11,853 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 11,853 sqft
Price per Sqft $168
MLS Listing ID 26641103
HOA Y/N No
Year Built 1924
Lot Size 0.310 Acres
Property Description
The subject property is a 20-unit apartment complex located in South Los Angeles, just east of the USC campus. The building consists of sixteen singles and four - one-bedroom units. The structure was built in 1924 and contains 11,853 square feet. It is situated on a 13,500 square foot lot which is zoned LAR2. The units are producing almost $20,000 per month and close to $240,000 annually. At list, the GRM is 8.33 and the Cost Per Unit is a very attractive $100,000 per unit. The day one cash flow is almost 8% based on a 35% down payment. Even with those attractive numbers, there is still plenty of upside in the rents, with most doubling upon turnover. This one will not last. Unit sizes are approximate. Buyers to rely on their own investigations
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Uncovered
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5108007007
Special Listing Condition Standard
Listed by Jerome McAlpin McAlpin & Company
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "