Value Added Rehab Opportunity

Detail

Updated on June 21, 2021 at 5:11 pm

Land Area: 7,000 sq ft
Property Size: 4,872 sq ft
Price: $3,195,000
Year Built: 1933

Description

• Price reduced!
• 2-story, 10-unit apartment building
• Ideal for rehabilitation
• Just 2 blocks south of Metro Purple Line subway extension at Wilshire Blvd and Federal Ave (under construction)
• Two 2-bedroom units; four 1-bedroom units; four single units (all units have one bathroom)
• Property is in excellent condition
• Parking for 10 vehicles
• Under market rents; fantastic upside potential!
• Prime westside location just north of Santa Monica Blvd and two block east of Barrington Ave
• Adjacent to Brentwood, Westwood and Santa Monica
• Current actual $81,844 net annual income: 2.56% cap rate
• Pro forma $179,714 net annual income (market rates): 5.62% cap rate
• Please do not disturb the tenants; call broker to show