442-446 W 93rd St - Apartments FOR SALE


Los Angeles, CA 90003
$2,875,000 USD
213-233-4363
442-446 W 93rd St, Los Angeles, CA for Sale
$2,875,000 USD
Apartments - FOR SALE
1/4
null | 6.06% Cap Rate

442-446 W 93rd St
Los Angeles, CA 90003


HIGHLIGHTS

  • Attractive Mix of 1 (3 bd + 2 ba), 10 (2 bd + 1 ba), 5 (1 bd + 1 ba) and 1 Studio Units
  • Priced to Sell! | $169,000 Per Unit
  • Cashflow Day 1 Plus Tons of Value-Add Upside !
  • High Visibility Location With a Large Footprint
  • 3 Separate Buildings on 18,730 Sq Ft Lot
  • Opportunity to Add Multiple ADUs

OVERVIEW

Enrique Viramontes is pleased to introduce, for the first time on market in over 20 years, 442 W 93rd Street. The property consists of an attractive mix of 1 three bedroom + two bath, 10 two bedroom + one bath, 5 one bedroom + one bath and 1 Studio on a huge 18,730 SF Lot. Plentiful parking is available onsite for tenants. Further investment highlights include a low $169,000 per unit, a 9.64 current GRM and the possibility to achieve additional income from adding multiple ADUs. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units, $2,172 for 1-bedroom units, and $1,920 for studio units.

FOR SALE DETAILS

PRICE

$2,875,000 USD

PRICE/SF

$253 USD /SF

# OF UNITS

17

PRICE/UNIT

$169,118

CAP RATE

6.06%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

9.64 GRM / 6.06% Cap Rate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1939

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,730 SF

ZONING

LARD2

APN/PARCEL ID

6039-005-001

ASK ABOUT THIS PROPERTY

Enrique ViramontesRE/MAX Commercial & Investment RealtyMore Info
213-233-4363

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Enrique ViramontesRE/MAX Commercial & Investment RealtyMore Info
213-233-4363

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