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

8,128 sqft

Lot size

12,709 sqft

Year built

1955

Stories

2

Heating

Wall Furnace

Status

Active

Days on market

8

MLS #

246725645

About this property

This property is part of a rare opportunity to acquire a 4 building, 52-unit portfolio in South Los Angeles. This property is a very well-kept, updated and professionally managed 16-unit asset with all large & open 1 Bed/1 Bath units that has on-site parking for tenants. Low operating expenses as tenants pay for gas, electricity and trash. 5 units have just finished remodels and are now on the rental market and market rent ready. The location is family friendly for tenants being walking distance to Vista Point Community Park & Chester Washington Golf Course, 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! This property is located two doors away from two of the portfolio assets which provides a rare opportunity of large lot assemblage.

Location

11718 S Budlong Avenue

Los Angeles, Los Angeles, CA, 90044