151 S Mountain View Ave - Apartments FOR SALE


Los Angeles, CA 90057
$2,200,000 USD
310-666-2246
151 S Mountain View Ave, Los Angeles, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/19
null | 7.3% Cap Rate

151 S Mountain View Ave
Los Angeles, CA 90057


HIGHLIGHTS

  • RTI plans to add 2 Attached ADUs in the garages
  • 4 fully renovated units with permits, providing immediate income and higher rents
  • 2 New upcoming vacancies that can be renovated and leased for a significant increase in rental income
  • Prime location with strong rental demand, making it a desirable investment opportunity
  • Priced at only $220k per door and $336 per square foot, making it a great investment opportunity
  • Current Cap Rate of 7.3% and GRM of 10, with potential for even greater returns on proforma

OVERVIEW

Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$337 USD /SF

# OF UNITS

10

PRICE/UNIT

$220,000

CAP RATE

7.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Current 7.3% Cap Rate w upside to 11%

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

lac2

APN/PARCEL ID

5154-006-009

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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