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The subject property is a 16-unit multifamily 2 story apartment building build in 1965 located at 1515 W 103rd St Los Angeles CA 90047. The building is approximately 12,752 Sq Ft and sits on a 17,282 Sq Ft lot, with 26 bedrooms and 22 bathrooms comprised of 2-3 bedroom 2 bath units, 4-2 bedroom 2 bath units 2-2 bedrooms 1 bath and 8-1-bedroom 1 bath units. This property offers a tremendous opportunity for long term growth and stability, opportunity to add value through long term rental increases, current rents are 35% under market rents. Investments should result in a stabilize 9.5 + CAP rate. The building offers modern convenience with extra-large floor plans, great amenities and low maintenance to include full laundry facility, covered car ports and low vacancy. These benefits will keep the building’s chances of operating at full occupancy, as well as fundamentally serve as a comfortable living establishment for tenants, allowing the property to realize an upside in overall rental income and property value appreciation over the next five - ten years.
Property Type(s):
Residential Income
| Last Updated | 10/16/2024 | Year Built | 1965 |
|---|---|---|---|
| Community | Los Angeles Southwest | County | Los Angeles |
Price History
| Prior to Jul 30, '24 | $3,495,000 |
|---|---|
| Jul 30, '24 - Today | $3,257,000 |
Additional Details
| AREA | Los Angeles Southwest |
|---|---|
| GARAGE | Carport |
| LOT | 0.4 acre(s) |
| LOT DESCRIPTION | 16-20 Units/Acre |
| PARKING | Carport |
| POOL DESCRIPTION | None |
| SEWER | Private Sewer |
| STORIES | 2 |
| ZONING | LCR2* |
Location
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Listed with Equity North Investments Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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