944-962 S Park View St - Apartments FOR SALE


Los Angeles, CA 90006- Pico-Union
$1,590,000 USD
310-550-2615
944-962 S Park View St, Los Angeles, CA for Sale
$1,590,000 USD
Apartments - FOR SALE
1/14
null | 6.41% Cap Rate

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


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

Private Property. Tours by Appointment Only. Do Not Disturb Tenants. 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 6.41% and a very attractive pro-forma CAP rate of 10.72%, positive leverage may be available to qualified borrowers, making this an ideal investment for those looking to maximize returns. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property's suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

FOR SALE DETAILS

PRICE

$1,590,000 USD

PRICE/SF

$70 USD /SF

# OF UNITS

10

PRICE/UNIT

$159,000

CAP RATE

6.41%

% 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

James KeadyCBREMore Info
310-550-2615

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James KeadyCBREMore Info
310-550-2615

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