2939 Brighton Ave - Apartments FOR SALE


Los Angeles, CA 90018- West Adams
$1,390,000 USD
310-467-7581
2939 Brighton Ave, Los Angeles, CA for Sale
$1,390,000 USD
Apartments - FOR SALE
1/15
null | 6.64% Cap Rate

2939 Brighton Ave
Los Angeles, CA 90018
West Adams


HIGHLIGHTS

  • Great location in close proximity to Adams and all of the shops and dining the neighborhood has to offer
  • Immediate access to upside with 1 vacancy and the ability to capture top of the market rents
  • Potential tenants are drawn to the quiet, wide, residential street. The property offers a quiet reprieve from traffic and congestion
  • Spacious layouts with (4) 1 Bed / 1 Bath, (2) Studio / 1 Bath, (1) 2 Bed / 2 Bath / Den laid out over 5,316 square feet
  • The subject property benefits from it’s central location in Los Angeles in close proximity to Downtown LA and also has direct access to the 10 fwy
  • Great cash flow opportunity with excellent going in cap rate and GRM

OVERVIEW

We are pleased to present an excellent cash flow opportunity on a quiet street in West Adams. The charming craftsman is a 7 unit apartment building located in the West Adams submarket, between Normandie and Western Ave and south of Adams. The structures are wood frame stucco with 3 separate buildings. The two structures in the rear are bungalow style units and the structure in the front of a two story building. The zoning for the lot is LAR1 as most of the block consists of single family home or low density smaller apartments. The unit mix consists of (4) 1 Bed / 1 Bath, (2) Studio / 1 Bath and (1) 2 Bed / 2 Bath / Den. The subject property is located just west of USC, south of Koreatown/Mid-City and has easy access to the 10 Freeway. West Adams is a historic neighborhood characterized by tree-lined streets, well-preserved Victorian homes, Craftsman bungalows, and a neighborhood with unique charm and appeal. In recent years, West Adams has experienced a revitalization, attracting young professionals, artists, and families seeking a blend of historic ambiance and urban convenience. The neighborhood is home to a booming arts scene, with galleries, studios and cultural events adding vibrancy to the community. Residents enjoy proximity to major cultural attractions including the Natural History Museum and the California Science Center. Additionally, the neighborhood offers easy access to transportation corridors, including the Expo Line light rail, providing convenient connections to Downtown LA and Santa Monica.

FOR SALE DETAILS

PRICE

$1,390,000 USD

PRICE/SF

$261 USD /SF

# OF UNITS

7

PRICE/UNIT

$198,571

CAP RATE

6.64%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1905

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R1, Los Angeles

APN/PARCEL ID

5053-030-034

ASK ABOUT THIS PROPERTY

Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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