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

16

Building size

9,328 sqft

Lot size

18,360 sqft

Year built

1957

Stories

2

Heating

Wall Furnace

Status

Active

Days on market

8

MLS #

246721962

About this property

This property is part of a rare opportunity to acquire a 4 building, 52 unit portfolio in South Los Angeles. 1142-1148 E 120th Street is a well maintained, recently updated and professionally managed 16-unit apartment building with all 2 Bed/1 Bath units and on-site gated parking for tenants. The property sits on a massive 18,356 SF lot and favorably zoned LAC2 for land value. Location is family friendly for tenants being across the street from Magic Johnson Park, and very mobile being just blocks to/from the 105 freeway and minutes to/from the 110 freeway. The portfolio purchase features an in-place 8.76x GRM and 7.56% cap rate, and all properties are late 1950's construction assets with parking for tenants, and a unit mix of (36) 1 Bed/1 Bath & (16) 2 Bed/1 Bath units -- NO studios, bachelors or singles!

Location

1148 E 120th Street

Los Angeles, Los Angeles, CA, 90059