1380 E 22nd St - Apartments FOR SALE


Los Angeles, CA 90011- Southeast Los Angeles
$895,000 USD
213-225-7223
1380 E 22nd St, Los Angeles, CA for Sale
$895,000 USD
Apartments - FOR SALE
1/10
null | 7.38% Cap Rate

1380 E 22nd St
Los Angeles, CA 90011
Southeast Los Angeles


OVERVIEW

We are proud to present 1380 E 22nd Street, a four-unit property located in the heart of Downtown Los Angeles priced at a 7.38% CAP on current rents. All units will be delivered with tenants in place. Located south of the 10 freeway and east of the 110 freeway, this property is located just minutes away from Downtown Los Angeles, Chinatown, to the Crypto.com Arena, The Convention Center, LAFC, The Coliseum, USC, Natural History Museum as well as a number of other tenant amenities and conveniences. The property consists of two separate duplexes comprising 2,610 rentable square feet built in 1927 which is situated on a 5,705 square foot lot with alley access. The unit mix consists of (1) three-bedroom one bath, (2) two-bedroom two-bath and (1) one-bedroom one bath unit. Priced attractively at a 7.38% CAP Rate and at 9.32X Gross on current rents, this opportunity presents 35% upside in rents to operate at a 10.87% CAP Rate and a 6.91 GRM at market. All units are tenant occupied with all units having been renovated except for the one bedroom. Contact the listing broker for additional information.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$343 USD /SF

# OF UNITS

4

PRICE/UNIT

$223,750

CAP RATE

7.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7.38% CAP - Fully Occupied 4-Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,705 SF

ZONING

LAR4

APN/PARCEL ID

5119-006-020

ASK ABOUT THIS PROPERTY

Casey LinsKidder MathewsMore Info
213-225-7223

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Casey LinsKidder MathewsMore Info
213-225-7223

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.