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4723 August St

Los Angeles, CA 90008
  • $4,500,000
  • STATUS: Active
  • ON SITE: 26 Days
  • MLS #: 22-150371
UPDATED: 40 min ago
$4,500,000
  • 36
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 20,680
    SQFT
  • $218
    $/SQFT
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

4723-4725 August St (APN: 5030-004-018, 5030-004-019) is a 20-unit gated apartment community located in Baldwin Village just south of Coliseum St between Nicolet Ave and Stevely Ave. The property consists two adjacent ten-unit buildings featuring eight one-bedrooms, eight two-bedrooms, and four three-bedrooms with 12 parking spaces.This is a true value-add opportunity with the majority of units leased at below market rents. There is substantial rental upside of over 53% achievable through interior renovations as units turn as well as exterior capital expenditures. At the asking price, the subject property is being offered at a low $218 PSF with a pro forma CAP rate of 7.35% once stabilized. 4723-4725 August St is separately metered for gas and electric.The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008-zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 4723-4725 August St. Additionally, the property is located less than one mile from Kaiser Permanente and the Baldwin Hills Shopping Center.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T08:42:42.763. 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/128102732
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4723 August St Los Angeles, CA 90008

  • Price: $4,500,000
  • Status: Active
  • On Site: 26 Days
  • Updated: 40 min ago
  • MLS #: 22-150371
36
Beds
0
Baths
0
½ Baths
N/A
Acres
20,680
SQFT
$218
$/SQFT
Neighborhood:
Park Hills Heights
County:
Los Angeles
Area:
Park Hills Heights
Property Description
4723-4725 August St (APN: 5030-004-018, 5030-004-019) is a 20-unit gated apartment community located in Baldwin Village just south of Coliseum St between Nicolet Ave and Stevely Ave. The property consists two adjacent ten-unit buildings featuring eight one-bedrooms, eight two-bedrooms, and four three-bedrooms with 12 parking spaces.This is a true value-add opportunity with the majority of units leased at below market rents. There is substantial rental upside of over 53% achievable through interior renovations as units turn as well as exterior capital expenditures. At the asking price, the subject property is being offered at a low $218 PSF with a pro forma CAP rate of 7.35% once stabilized. 4723-4725 August St is separately metered for gas and electric.The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008-zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 4723-4725 August St. Additionally, the property is located less than one mile from Kaiser Permanente and the Baldwin Hills Shopping Center.
Exterior Features

Lot Size Area 16200 Other Structures None Parking Garage Covered Parking Total Parking 12

Interior Features

Baths Total 32.00 Cooling Other Equipment RefrigeratorRange/Oven Heating Natural Gas

Property Features

Gross Income 313970 Gross Operating Income 304551 Like Units1 8 Like Units2 8 Like Units3 4 Net Operating Income 184632.00 Number Of Buildings 2 Number Of Units 20 Sale Type Standard Source Living Area Owner Source Lot Size Area Owner Total Annual Expense 119919 Type Of Units Apartments

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T08:42:42.763. 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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