Description
RENTAL INCOME: $351,348.00/year - $29,279.00/month. 4.2% CAP RATE - 11.4 GRM. We are pleased to present the 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 a 8,821 sq. ft. corner lot which consists of thirteen 1 bed/1 bath units and thirteen singles. The building is currently generating $351,348.00 per year in rental income. This bread and butter building has a tremendous 30% upside potential and is perfect for the investor looking to add more units to their portfolio at a $153,653.84 cost per unit/$247.33 cost per square foot price.The building is well taken care of and all units are mastered metered allowing for 6% RENTAL INCREASES. The property is 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. 6.6% PRO FORMA CAP RATE / 9.1 PRO FORMA GRM
-
13BEDS
-
0.2ACRES
-
0BATHS
-
01/2 BATHS
-
16,152SQFT
-
$247$/SQFT
School Ratings & Info
Description
RENTAL INCOME: $351,348.00/year - $29,279.00/month. 4.2% CAP RATE - 11.4 GRM. We are pleased to present the 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 a 8,821 sq. ft. corner lot which consists of thirteen 1 bed/1 bath units and thirteen singles. The building is currently generating $351,348.00 per year in rental income. This bread and butter building has a tremendous 30% upside potential and is perfect for the investor looking to add more units to their portfolio at a $153,653.84 cost per unit/$247.33 cost per square foot price.The building is well taken care of and all units are mastered metered allowing for 6% RENTAL INCREASES. The property is 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. 6.6% PRO FORMA CAP RATE / 9.1 PRO FORMA GRM
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-03-02T20:42:44.053. 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.