211 E 55th St - Apartments FOR SALE


Los Angeles, CA 90011
$1,795,000 USD
310-869-9137
211 E 55th St, Los Angeles, CA for Sale
$1,795,000 USD
Apartments - FOR SALE
1/10
null | 7.69% Cap Rate

211 E 55th St
Los Angeles, CA 90011


HIGHLIGHTS

  • 6 of 9 Units Delivered VACANT!
  • Diverse & Top Heavy Unit Mix - (3) 2 Bed/1 Bath, (4) 1 Bed/1 Bath, (2) Studio Units
  • Of The 6 Vacant Units, 3 Have Been Remodeled & Are Section 8 Move-In-Ready! The Other 3 Are Vacant & Ready For Buyer To Remodel To Their Standards
  • Of The 3 Occupied Units, One (Unit #4, 1 Bed/1 Bath), Has Been Remodeled & Just Leased To Section 8 For $2,407/Month
  • Separately Metered For Gas & Electricity
  • 7.69% Cap Rate & 8.62x GRM Assuming Vacancies Leased To Section 8

OVERVIEW

Rare opportunity to buy a building with 6 of 9 units delivered VACANT, giving a Buyer endless rental possibilities to hand pick their own tenants and generate substantial Day 1 cashflow! Diverse and top-heavy unit mix with (3) 2 Bed/1 Bath, (4) 1 Bed/1 Bath, and (2) Studio units. Of the 6 vacancies, 3 of them are remodeled and Section 8 move-in-ready, with the other 3 ready for a Buyer to renovate to their preference! Of the 3 occupied units, one (Unit #4, 1 Bed/1 Bath), has been remodeled and leased to Section 8 for $2,407/month! In addition to 4 renovated units, the building has undergone remodeled hallways & common areas, electrical repairs, and all 9A work (i.e. EQ shut off valves, carbon and smoke monoxide detectors, water heater strapping and low flush toilets) has been completed. The property is separately metered for gas & electricity, and, with no on-site laundry room, common area utilities will remain low to help sustain a great NOI. Tenants are just a close 2 miles away from the evolving Exposition Park that now features The Lucas Museum of Narrative Art to go along with BMO Stadium, LA Coliseum, California Science Center & Natural History Museum, and USC's campus.

FOR SALE DETAILS

PRICE

$1,795,000 USD

PRICE/SF

$385 USD /SF

# OF UNITS

9

PRICE/UNIT

$199,444

CAP RATE

7.69%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1912

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,887 SF

ZONING

R3-1, Los Angeles

APN/PARCEL ID

5101-013-021

ASK ABOUT THIS PROPERTY

Jonathan RawsonAvenue Realty Group/ARG CommercialMore Info
310-869-9137

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Jonathan RawsonAvenue Realty Group/ARG CommercialMore Info
310-869-9137

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