Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

7

Building size

5,616 sqft

Lot size

11,841 sqft

Year built

1992

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

203

MLS #

238251148

About this property

7 Large Units in LA county with Huge Lot Built in 1992. Great actual income with 6.6% CAP rate. The rents are still well below market, giving the buyer tremendous potential to increase income further. Convenient location: about 5 miles to Monterey Park & Downtown LA, 7 miles to Alhambra and 8 miles to South Pasadena. Close to USC Medical Center, Cal State LA, Boyle Heights and employment hubs. Walking distance to shops, schools, and neighborhood dining. Centrally located near Arts District. Vibrant cultural community with strong rental demand. Minutes to major freeways (I-5, I-10, 710 & 60) . Easy commuter access. This is a value-add investor’s dream: long-term tenants, below-market rents, and immediate to get cash flow and for growth & appreciation. Ample parking spaces, with a total of 16 parking spots. Due to the large lot size and abundant parking, there is potential to add ADUs. If feasible, the buyer’s potential income could further increase, but the buyer must verify with the city. The property equipped with security cameras. The seller may carry.

Location

1034 S Herbert

Los Angeles, Los Angeles, CA, 90023