Los Angeles Class C Value-Add Multifamily For Sale
Class C in a C+ location
OPPORTUNITY TO ACQUIRE A STABILIZED ASSET
UPSIDE IN RENTAL GROWTH
HISTORIC HIGH OCCUPANCY
OVER 50% TWO & THREE BEDROOM
PROPERTY IS WOOD FRAME STUCCO CONSTRUCTION
SEPARATELY METERED FOR GAS AND ELECTRIC
MOST OF THE ROOF REDONE IN 2016 AND SOLAR PANELS INSTALLED IN 2017
$150,000,000 DEVELOPMENT DOWN THE STREET
LOW SUBMARKET VACANCY RATE OF 2.8% PER REIS
Current (Annualized) NOI is $805,889 (4.71)
Market NOI is $1,048,659 (6.13)
Off-Market and Confidential Offering.
This Garden Low-Rise apartment represents a value-added investment with great upside in rents, location, and future high value
The location provides access to the I-5, I-405, and another major State Highway.
Built in the mid 1960's and partially renovated in 2016.
The owner is doing more (mandatory) retrofitting improvements at the moment, which will be highly beneficial for the new buyer as it costs anywhere between $100k- $150k.
This size multifamily is very hard to hit the market.
Very rare in LA market to find 4.46% current cap .
The area is among the highly densely populated area in LA, many jobs around, very easily accessible to major Freeways which adds a lot of value considering the crazy LA Traffic.
This a Low Rise Multifamily Property
There are 80+ Units
under 10 ... 0+1
30ish ... 1+1
15ish ... 2+1
mid 20s ... 2+2
under 10 ... 3+2.5
NOI based on last 12 months operating income and expenses: $770,000
Cap Rate: Current 4.46% at asking price
Located in a Major Los Angeles County area - among the highest densities for the city of LA.
Currently 100% occupied. Historic high occupancy for this property
Year Built / Refurbished 1964. Replaced the entire roof last year and installed solar panels early this year.
Value-add available by upgrading the class of the building and getting higher rents after that.
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.