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4020 Stevely Ave

Los Angeles, CA 90008
  • $3,995,000
  • STATUS: Active
  • ON SITE: 45 Days
  • MLS #: 21-110083
UPDATED: 52 min ago
$3,995,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,746
    SQFT
  • $457
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1959
County:

School Ratings & Info

Description

BRC Advisors is proud to present for sale this turn-key 12-unit apartment property located at 4020 Stevely Avenue, in the Baldwin Hills neighborhood of Los Angeles. The property has recently undergone an extensive "gut job" renovation to ten of the twelve units as well as the common areas, including: copper plumbing, electrical, kitchens, bathrooms, windows, flooring, stucco, and much more. The seller approximates a total capital expenditure cost of approximately $700,000, which also includes the completion of the city mandated seismic retrofit of the property. There are a total of seventeen(17)onsite parking spaces. The property boasts an excellent unit mix of eight (8) 2-bedroom units, two (2) 3-bedroom units, and two (2) 1-bedroom units. The units are occupied by section 8 tenants with the vast majority of the rental income being deposited into the owner's bank account on the first of every month, providing a steady and reliable income stream during these times of eviction moratoriums which allow tenants to not pay. At the asking price, a buyer can expect to achieve an impressive 5% going-in cap rate and a 9.2% total return, based on a 70% LTV loan at a 3.5% interest rate. Additionally, significant upside remains in the two units which have not yet been "turned", with their current rents at only$388 and $828 per month. The property is in a gentrifying Location just east of La Brea and south of Coliseum Street. It is located about 1 mile from the Baldwin Hills Crenshaw Plaza, recently purchased by Harridge Development with announced plans for a $1 Billion overhaul.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-20T13:42:54.777. 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.
www.markwiseproperties.com/homes/123760482
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4020 Stevely Ave Los Angeles, CA 90008

  • Price: $3,995,000
  • Status: Active
  • On Site: 45 Days
  • Updated: 52 min ago
  • MLS #: 21-110083
0
Beds
0
Baths
0
½ Baths
0.19
Acres
8,746
SQFT
$457
$/SQFT
1959
Built
Neighborhood:
Park Hills Heights
County:
Los Angeles
Area:
Park Hills Heights
Property Description
BRC Advisors is proud to present for sale this turn-key 12-unit apartment property located at 4020 Stevely Avenue, in the Baldwin Hills neighborhood of Los Angeles. The property has recently undergone an extensive "gut job" renovation to ten of the twelve units as well as the common areas, including: copper plumbing, electrical, kitchens, bathrooms, windows, flooring, stucco, and much more. The seller approximates a total capital expenditure cost of approximately $700,000, which also includes the completion of the city mandated seismic retrofit of the property. There are a total of seventeen(17)onsite parking spaces. The property boasts an excellent unit mix of eight (8) 2-bedroom units, two (2) 3-bedroom units, and two (2) 1-bedroom units. The units are occupied by section 8 tenants with the vast majority of the rental income being deposited into the owner's bank account on the first of every month, providing a steady and reliable income stream during these times of eviction moratoriums which allow tenants to not pay. At the asking price, a buyer can expect to achieve an impressive 5% going-in cap rate and a 9.2% total return, based on a 70% LTV loan at a 3.5% interest rate. Additionally, significant upside remains in the two units which have not yet been "turned", with their current rents at only$388 and $828 per month. The property is in a gentrifying Location just east of La Brea and south of Coliseum Street. It is located about 1 mile from the Baldwin Hills Crenshaw Plaza, recently purchased by Harridge Development with announced plans for a $1 Billion overhaul.
Exterior Features

Lot Size Area 8100 Other Structures None Parking Garage Covered Parking Total Parking 17

Interior Features

Baths Total 16.00 Cooling Other Equipment Other Heating Other Laundry Laundry Area

Property Features

Gross Income 299073 Gross Operating Income 290421 Like Units1 8 Like Units2 2 Like Units3 2 Net Operating Income 200862.00 Number Of Buildings 1 Number Of Units 12 Property Condition Updated/Remodeled Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 89559 Type Of Units Apts Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Ardy Ishal DRE#01769601 of Brc Advisors- Bh.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-20T13:42:54.777. 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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Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270