$2,795,000 SALE
5,619 SF
1145 S Corning Street
Los Angeles, CA 90035

7 Unit apartment building Located on a quiet street in the heart of the highly desirable Pico-Roberton neighborhood. 3 Units will be delivered vacant. Monthly potential gross income over $16,000 and current CAP rate is 4.5%. Property has good upside with proforma CAP rate 5.4%. 5 out of 7 units are extensively remodeled with recessed lighting, updated plumbing & electrical, new kitchen, bathrooms & floors! Great unit mix consisting of four 1BD/1BA, two 2BD/1BA, and one 2BD/1.5BA. The property features charming architecture & strong curb appeal. Community amenities include on-site parking, on-site laundry X2, and over-sized storage lockers. Close to great restaurants, shops, parks, and places of worship. Nearby locations include Cedar Sinai Medical Center, Beverly Center, The Grove, Pacific Design Center, Sunset Strip and is close to the future extension of the Purple Line Metro.

Property Type Multi-Family
Year Built 1955
Level Number 2
Available Floors 2
Sub-Lease 7
Zoning R3-1, Los Angeles
Listing ID 2BPPKJ
MLS ID 21-685876
Style Multi-Family (5-20 Units)
Building Size 5,619 SF
Lot Size 6097 SF
Available Date Feb 18th, 2021

Property Highlights

9 Parking Space + Two On-Site Laundry (1 Private and 1 Common)

3 Units delivered vacant

Desirable Pico-Robertson Neighborhood

5 Highly Remodeled Units

4.40% CAP & 14.85 GRM CURRENT | 5.34% CAP & 12.94 GRM PROFORMA

Area Description

Region: CA

Region: Los Angeles

Property Features
Parking Places: 9
Full Bath: 7
Half Bath: 1
Location Name: Pico Robertson
Development ID: Pico Robertson
Lot Size: Under 1/2 Acre
Pool Description: Pool
Cooling: Wall Unit A/C
Age: Over 50 Years Old
Gross Income: $188,251
Expenses: $60,092
Additional Media

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