4215 S Kansas Ave - Apartments FOR SALE


Los Angeles, CA 90037
$3,650,000 USD
424-405-3826
4215 S Kansas Ave, Los Angeles, CA for Sale
$3,650,000 USD
Apartments - FOR SALE
1/8
null | 4.81% Cap Rate

4215 S Kansas Ave
Los Angeles, CA 90037


HIGHLIGHTS

  • Excellent Opportunity to Acquire a Partially Renovated Apartment Building in a Strong Rental Area Proximate to Expo Park
  • Attractive Assumable Financing Available: 3.71% Fixed Rate Until May 2030
  • Property Features a Mix of 23 Studios, One One-Bed/One- Bath Unit, Controlled Access, and On-Site Laundry
  • Approximately Two-Thirds of the Units Have Been Renovated
  • Current Rents Offer 27 Percent Rental Upside
  • Located West of the 110 Freeway Steps to Manual Arts Sr. High School, a Half-Mile to Expo Park and One Mile to USC

OVERVIEW

Marcus & Millichap is pleased to present to market 4215 Kansas Avenue, a 24-unit apartment building in Los Angeles, California. The property is in a strong rental location just a half-mile from Expo Park and top Los Angeles attractions that include the L.A. Memorial Coliseum, BMO Stadium, the Lucas Museum, the California Science Center, the California History Museum, and more. Furthermore, USC and the Metro Expo line are just one mile from the property. 4215 Kansas Avenue features 23 studio apartments and one one-bedroom unit. Many of the units have been upgraded, and all are separately metered for gas and electricity. The building also offers on-site laundry. Current rents offer a new investor 27 percent rental upside, and attractive assumable financing make this a great acquisition opportunity in a dense rental market. Assumable financing terms: Freddie Mac loan via CBRE with a fixed rate of 3.71% until May 1st, 2030. $1,268,411.93 balance remaining as of October 2024.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$382 USD /SF

# OF UNITS

24

PRICE/UNIT

$152,083

CAP RATE

4.81%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,621 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

5020-021-004

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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