1906 Pelham Ave - Apartments FOR SALE


Los Angeles, CA 90025
$5,250,000 USD
310-202-9166
1906 Pelham Ave, Los Angeles, CA for Sale
$5,250,000 USD
Apartments - FOR SALE
1/13
null | 4.36% Cap Rate

1906 Pelham Ave
Los Angeles, CA 90025


HIGHLIGHTS

  • Prime West LA location!
  • Two buildings on a single lot with a single APN# - 12 total units - Both buildings in the 1960's
  • Excellent unit mix of 3 BR, 2 BR and 1 BR units
  • Total building size for both buildings combined is approximately 13,448 SF
  • Value-add opportunity with below market rents - 1 of the 2 BR + 2 Bath units is vacant
  • Seismic work for parking structure has been complete on both buildings

OVERVIEW

The Pelham Ave. Residences are 12 multi-family units in two side by side properties located in a prime West LA location. Both properties are being sold together and have been combined as a single property with one APN #. The total size of both properties is approximately 13,448 SF and the total lot size is approximately 14,191 SF. The building on the corner of Pelham Ave and Missouri Ave is 7 units and the neighboring building is 5 units. Both properties are two stories and have tandem tuck under parking. There is a total of 12 parking spots and the mandatory seismic work for the parking structure has been completed on both properties. The Pelham Ave residences have an excellent unit consisting of (3) 3 BR (6) 2 BR and (3) 1 BR units. The rent roll reflects what the rents will be in February after rent increases have been implemented. Every unit has at least one wall mounted or central AC unit. A few of the 3 BR units have central air and all the units have ceiling fans. The currents rents are below market, creating a quintessential value-add opportunity. The Pelham Ave Residences are an incredible opportunity to purchase a trophy multi-family asset on a large corner lot in a prime West LA location.

FOR SALE DETAILS

PRICE

$5,250,000 USD

PRICE/SF

$390 USD /SF

# OF UNITS

12

PRICE/UNIT

$437,500

CAP RATE

4.36%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,191 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

4321-008-136

ASK ABOUT THIS PROPERTY

Dave MillerMiller & Desatnik Realty Corp.More Info
310-202-9166

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Dave MillerMiller & Desatnik Realty Corp.More Info
310-202-9166

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