• 6,610 sq.ft.
  • 10,554 sq.ft. lot
offered at $2,495,000
Status: Active // Property Type:
County: Los Angeles // Year Built: 1923

Property Description

Huge 500k Price Reduction! 80% Vnt 15-Unit Fixer with 12 vacancies priced at only 210k/door with a 6.5% Cap Rate after renovations. Fully Approved RTI Plans to convert the current 5 vnt units into 10 vacant units plus 2 ADUs in the back. Incredible Current Cap Rate of 6.5% and 11.6 GRM after renovations with 35% upside to 9.4% Cap Rate & 11.6 GRM on the proforma. Excellent up-and-coming location minutes from Banc of California Stadium, USC, & Inglewood. Individually metered for Gas & Electricity. Large 10,268 SF C2 Lot for future redevelopment. Price/Unit, Price/SF, Cap Rate & GRM are based on Total Price for sake of conservatism, which includes the remodeling cost of 10 vacant units 3,600 SF at 125/SF (450k) plus construction cost of 2 ADUs 850 SF at 250/SF (210k).

Listing Courtesy of Jorge Lopez, Corcoran Global Living

Exterior Features

Exterior Features: Sidewalks
  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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