4132-4138 Somerset Dr - Apartments FOR SALE


Los Angeles, CA 90008- Crenshaw
$3,750,000 USD
310-956-2291
4132-4138 Somerset Dr, Los Angeles, CA for Sale
$3,750,000 USD
Apartments - FOR SALE
1/14
null | 5.8% Cap Rate

4132-4138 Somerset Dr
Los Angeles, CA 90008
Crenshaw


HIGHLIGHTS

  • LARGE UNITS FEATURING RENTAL UPSIDE
  • OFFERED AT AN ATTRACTIVE CURRENT CAP RATE AND GRM
  • ONE UNIT VACANT
  • MAJORITY SECTION 8 TENANTS
  • ON-SITE LAUNDRY AND COURTYARD STYLE LAYOUT
  • PRIME BALDWIN HILLS LOCATION

OVERVIEW

John Katnik of BRC Advisors, as the exclusive listing advisor, is proud to present this 16-unit apartment in Baldwin Hills! This property offers a unique opportunity to acquire a cash flowing property with true rental upside. This property can be paired with a 12-unit apartment located a few blocks away as well. The offering features a total of 16 units. There are two 8-unit buildings side by side (no on-site manager required). The units consist of 13,664 total building square feet and sit on a 16,766 square foot lot. The unit mix comprises of eight 2-bedroom/1-bathroom units and eight 1-bedroom/1-bathroom units. The property has 12 total parking spaces consisting of 6 two car garages. Tenants also can enjoy on-site laundry facilities and a beautiful courtyard that separates the two buildings. To add to future upside for a new owner, 1 unit can be delivered vacant at close of escrow. Currently, 10 out of 16 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

$3,750,000 USD

PRICE/SF

$274 USD /SF

# OF UNITS

16

PRICE/UNIT

$234,375

CAP RATE

5.8%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,766 SF

ZONING

LAR3

APN/PARCEL ID

5032-017-010,5032-017-011

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.