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Los Angeles, California

$1,545,00011 Beds10 BathsContract Pending

Los Angeles, California 90044
- MLS® ID: 17261312

Property Details

Los Angeles, California 90044 - We are pleased to bring to market this cash flow opportunity in South Los Angeles. This nine unit apartment complex produces over $11,000 per month with very low expenses. There is an excellent unit mix of one - three bedroom house, seven - one bedroom apartments and one - single unit. The complex is situated on a very large lot containing over 18,000 square feet and faces both 110th and 111th Streets. The property is located just west of Vermont between Century and Imperial, in an area know as the County Strip. Because it is located in the County Strip it is not subject to rent control, and there are no annual SCEP inspections to deal with. The investment is being offered at an attractive 10.58 GRM and a 6.88 CAP rate. As of October 1st, the monthly income will be approximately $12,365 per month. Almost all units have approved increases from Section 8. So, the new GRM will be 10.41 and the new CAP will be higher as well. Please do not walk on property or disturb tenants.

Amenities

  • Zip90044
  • Countylos angeles
  • SQFT1032
  • Bedrooms11
  • Full baths10.00
  • StatusPending
  • Purchase TypeContract Pending
  • Property typeMulti-Family
  • Zoning typeLCR320U*
  • Year built1949
  • Lot size18009
  • HeatingWall Heater
  • CoolingNone
  • ParkingUncovered
  • MLS® ID17261312

Listing Courtesy of McAlpin & Company

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“Brady handled all aspects of the sale of our property. His support team too were professional, courteous and responsive. I feel we got our money's worth. Strongly recommend Brady.”

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