Description

RENTAL INCOME: $355,308.00 per year / CAP RATE 4.6 % / GRM 11.8. Excellent opportunity to acquire a 26 unit apartment building in the Downtown LA area just south of the 10 Freeway. This 3-story, 16,152 sq. ft. building resides on a 8,821 sq. ft. corner lot zoned LAC2 which consists of thirteen 1 bed/1bath units and thirteen singles. This "bread and butter" building has a tremendous upside potential and is perfect for the investor looking to add more units to their portfolio at a low $161,538.00 cost per door / $259.00 cost per square foot. 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. The building is well taken care of and all units are mastered metered allowing for 6% percent rental increases. Excellent on-site management and positioned in the northwest area of the 90011 zip code and 1.5 miles from the Crypto.com Arena. Large 1,000 sq. ft. plus basement that can potentially be used as laundry area. Seller selects all services.