1951 W Martin Luther King Jr Blvd - Apartments FOR SALE


Los Angeles, CA 90062- Leimert Park
$2,595,000 USD
805-637-3623
1951 W Martin Luther King Jr Blvd, Los Angeles, CA for Sale
$2,595,000 USD
Apartments - FOR SALE
1/10
null | 5.86% Cap Rate

1951 W Martin Luther King Jr Blvd
Los Angeles, CA 90062
Leimert Park


HIGHLIGHTS

  • Newly Renovated Units Achieving High Rents
  • Strong Cash Flow from Day 1
  • Below Average Expense Profile
  • Gentrifying Area Allowing for Above Average Appreciation
  • Large Parking Lot

OVERVIEW

Located in the Leimert Park neighborhood, the subject property is centrally located offering quick access to premium entertainment such as The LA Memorial Coliseum and The Natural History Museum. The property is located a few miles from USC which provides access to a strong student rental market. The building has a diverse mix of 4 two-bedroom, and four studio units. Seven of the eight units have been completely remodeled with brand new electrical, plumbing, and mechanical. These units are also completely sub-metered for gas, electrical, and water resulting in an extremely low utility expense which is rare in the Los Angeles market. Due to the renovations the expense profile of the property is extremely low, and will allow for strong cash flow immediately.

FOR SALE DETAILS

PRICE

$2,595,000 USD

PRICE/SF

$541 USD /SF

# OF UNITS

8

PRICE/UNIT

$324,375

CAP RATE

5.86%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

RD1.5, Los Angeles

APN/PARCEL ID

5035-006-011

ASK ABOUT THIS PROPERTY

Christian MkpadoKW CommercialMore Info
805-637-3623

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Christian MkpadoKW CommercialMore Info
805-637-3623

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