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

Bedrooms

9

Building size

5,404 sqft

Lot size

9,668 sqft

Year built

1953

Stories

0

Heating

None

Cooling

None

Status

Active

Days on market

8

MLS #

246067634

About this property

Well-maintained 9-unit apartment community located in the desirable Westlake North neighborhood of Los Angeles. Ownership has invested over $700,000 in capital improvements, creating a turnkey asset featuring remodeled units with in-unit washer/dryers, recessed lighting, upgraded windows, modern appliances, updated electrical systems, copper plumbing, and a newer roof. The property also offers secured code-gated access, six on-site parking spaces, and spacious private sundeck patios for select two-bedroom units.The property delivers strong in-place cash flow at a 6.8% CAP rate while offering more than 26% rental upside. A large community backyard presents potential for future ADU development, providing additional value-add opportunities. Ideally situated just south of West 3rd Street, residents enjoy walkable access to popular retail, dining, and ongoing neighborhood revitalization, with convenient access to Echo Park, Silver Lake, and Downtown Los Angeles.

Location

415 Loma Drive

Los Angeles, Los Angeles, CA, 90017