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 DescriptionRegion: CA
Region: Los Angeles
| 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 |