6337 10th Ave - Apartments FOR SALE


Los Angeles, CA 90043- Park Mesa Heights
$2,595,000 USD
310-666-2246
6337 10th Ave, Los Angeles, CA for Sale
$2,595,000 USD
Apartments - FOR SALE
1/16
null | 6.25% Cap Rate

6337 10th Ave
Los Angeles, CA 90043
Park Mesa Heights


HIGHLIGHTS

  • Assumable $1.56 million dollar loan with a low interest rate of 3.17% locked in until 2028 with capped increases thereafter
  • 6.25% cap rate coupled with low rates and 60% LTV financing results in a 10.9% cash on cash return
  • Unique opportunity to secure today's pricing at over 6% cap rates with interest rates of 4 years ago

OVERVIEW

Incredible opportunity in the vibrant city of Los Angeles! This charming 6-unit property offers a remarkable chance to enhance and expand your real estate portfolio. With an attractive 6.25% Cap Rate, this 1990 constructed property (buyer to do own diligence on RSO restrictions), showcases significant potential for multiple ADUs and substantial rental growth. Spanning a generous 8,309 square feet on an expansive 11,000 square foot lot, this property also boasts an astounding 12 parking spaces and features four spacious 4-bedroom units, perfect for families, alongside two inviting 2-bedroom units. An assumable $1.56 million dollar loan with a remarkably low 3.17% interest rate, securely locked in until 2028 (with capped increases thereafter), results in notable positive leverage. With a 60% Loan-To-Value ratio (LTV) and a fantastic cash-on-cash return of 10.9%, this opportunity embodies an excellent investment prospect! This is a unique opportunity to secure today's pricing at over 6% cap rates + interest rates of 4 years ago + a reasonably high LTV, the combination of which are virtually unheard of in this market. Don't miss out on this outstanding opportunity!

FOR SALE DETAILS

PRICE

$2,595,000 USD

PRICE/SF

$312 USD /SF

# OF UNITS

6

PRICE/UNIT

$432,500

CAP RATE

6.25%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10.9% Cash on Cash with Assumable Financing

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,356 SF

ZONING

LAR3

APN/PARCEL ID

4006-011-021

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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