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

6

Building size

2,838 sqft

Lot size

6,315 sqft

Year built

1924

Stories

2

Heating

Wall Furnace

Status

Active

Days on market

35

MLS #

246572056

About this property

Huge ~275k Price Reduction! 6-unit value-add building with 12 parking spaces priced at only $170k/unit and cash flowing at a 6.75% Cap Rate from day 1 with upside to an 11% Cap on Proforma! Fully Approved RTI plans to add 6 detached ADUs to achieve an incredible 12.7% Current Cap Rate, 15.5% Proforma Cap, and only $141k/unit after taking into account all the construction costs (~670k assuming $250/SF). 3 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, new windows for all units, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Prime location just minutes away from Downtown LA, USC, BMO Stadium, George Lucas' Billion Dollar Museum, and Exposition Park where 2028 Olympics will be held!

Location

1325 E Adams Boulevard

Los Angeles, Los Angeles, CA, 90011