3779 Lockland Dr - Apartments FOR SALE


Los Angeles, CA 90008- Crenshaw
$3,095,000 USD
310-956-2291
3779 Lockland Dr, Los Angeles, CA for Sale
$3,095,000 USD
Apartments - FOR SALE
1/14
null | 6.4% Cap Rate

3779 Lockland Dr
Los Angeles, CA 90008
Crenshaw


HIGHLIGHTS

  • SOFT STORY RETROFIT COMPLETED
  • LARGE UNITS FEATURING RENTAL UPSIDE
  • OFFERED AT AN ATTRACTIVE CURRENT CAP RATE AND GRM
  • 50% SECTION 8 TENANTS
  • AMPLE ON SITE PARKING
  • ON-SITE LAUNDRY AND POOL

OVERVIEW

John Katnik of BRC Advisors is proud to present, as the exclusive listing advisor, this 12-unit apartment in the heart of Baldwin Hills! This property offers a unique opportunity to acquire a cash flowing property with true rental upside. This property can also be paired with a 16-unit apartment located a few blocks away. The offering features a total of 12 apartment units consisting of 11,742 total building square feet sitting on a 10,074 square foot lot. The unit mix comprises of eight 2-bedroom/2-bathroom units and four 1-bedroom/1-bathroom units. Soft story retrofit has been completed by the owner. The property has 14 total parking spaces consisting of 2 garages, 10 covered carport spaces and 2 open spaces. Tenants also can enjoy on-site laundry facilities and a pool. Half of the units are on section 8 housing vouchers while the rest are market rate tenants. Sitting just south of MLK and east of Crenshaw Blvd, this area of Baldwin Hills is very desirable given how close it is to Leimert Park.

FOR SALE DETAILS

PRICE

$3,095,000 USD

PRICE/SF

$264 USD /SF

# OF UNITS

12

PRICE/UNIT

$257,917

CAP RATE

6.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Attractive Day 1 Income with Massive Upside!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,074 SF

ZONING

LAR3

APN/PARCEL ID

5032-024-011

ASK ABOUT THIS PROPERTY

John KatnikBRC Advisors - BH, Inc.More Info
310-956-2291

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John KatnikBRC Advisors - BH, Inc.More Info
310-956-2291

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