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

6

Building size

7,400 sqft

Lot size

18,817 sqft

Year built

1978

Stories

2

Garage spaces

0

Heating

Central

Cooling

Central Air

Pool

None

Status

Active

Days on market

9

MLS #

246349985

About this property

6 unit property on large lot with Four 2 Bedroom 1.5 Bath units & Two 3 Bedroom 2 Bath units. 3 units currently vacant with one of them being a 2 Bedroom that has been recently renovated. Additional 2 bedroom and 3 bedroom units are vacant. Property has been an apartment but has recently gotten approved with the City for use as a condo but will still have to undergo the California DRE process of condo conversion to complete the process. Potential for that is similar to next door 232 Throne which was constructed at the same time and is now 6 individual condos with separate ownership (one of which sold in 2022 for 600k) Buy this property as a traditional rental or look for the potential for condo conversion.

Location

218 Thorne

Los Angeles, Los Angeles, CA, 90042