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RENTAL INCOME: $398,892.00 per year / $33,241.00 per month - CURRENT CAP RATE 5.3 % / CURRENT GRM 9.5 Excellent 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 an 8,823 sq. ft. corner lot which consists of thirteen 1 bed/1bath units and thirteen studios. The building is currently generating $398,892.00 per year in rental income. Tremendous upside potential that is perfect for the investor looking to add more units to their portfolio at a low $146,154.00 cost per door / $235.26 cost per square foot. The building is well taken care of and all units are mastered metered allowing for 6% yearly rental increases. The property is located 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. Excellent on-site management and the asset is positioned in the northwest area in the 90011 zip code 1.5 miles from the Crypto.com Arena. Large 1,000 sq. ft. plus basement that can potentially be used as laundry area. PRO FORMA CAP RATE 6.7 % / PRO FORMA GRM 7.9
Property Type(s):
Residential Income
| Last Updated | 3/8/2025 | Year Built | 1911 |
|---|---|---|---|
| Community | Downtown L.A. | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Refrigerator |
| AREA | Downtown L.A. |
| GARAGE | None |
| LOT | 8823 sq ft |
| LOT DIMENSIONS | 60x147 |
| PARKING | None |
| STORIES | 3 |
| ZONING | LAC2 |
Location
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Listed with Ashby & Graff
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