944-962 S Park View St - Apartments FOR SALE


Los Angeles, CA 90006
$1,650,000 USD
310-344-8218
944-962 S Park View St, Los Angeles, CA for Sale
$1,650,000 USD
Apartments - FOR SALE
1/14
null | 6.13% Cap Rate

944-962 S Park View St
Los Angeles, CA 90006


HIGHLIGHTS

  • One (1) rent-ready one-bedroom unit: Ready for immediate leasing at current market rates.
  • Two (2) two-bedroom units: Vacant and in need of renovation, offering the perfect opportunity for investors to customize interiors to their liking.
  • Additionally, there is still 44% RENTAL UPSIDE available to a new owner as tenants turnover, even with the three vacancies leased at market rents.

OVERVIEW

CBRE is excited to present a unique investment opportunity to acquire a 10-unit value-add multifamily investment in Los Angeles. INVESTMENT OPPORTUNITY: This property stands out with its THREE VACANT UNITS, presenting an exceptional chance for investors to acquire a value-add asset at an excellent cost basis. The vacancies include: One (1) rent-ready one-bedroom unit: Ready for immediate leasing at current market rates. Two (2) two-bedroom units: Vacant and in need of renovation, offering the perfect opportunity for investors to customize interiors to their liking and attract tenants of their choosing. Additionally, there is still 44% RENTAL UPSIDE available to a new owner as tenants turnover, even with the three vacancies leased at market rents. With a strong scheduled CAP rate of 6.13% and a very attractive pro-forma CAP rate of 10.29%, positive leverage may be available to qualified borrowers, making this an ideal investment for those looking to maximize returns.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$73 USD /SF

# OF UNITS

10

PRICE/UNIT

$165,000

CAP RATE

6.13%

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1909

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,801 SF

ZONING

LAR4

APN/PARCEL ID

5136-004-013

ASK ABOUT THIS PROPERTY

310-344-8218

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310-344-8218

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