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

12

Building size

7,404 sqft

Lot size

10,425 sqft

Year built

1954

Stories

2

Garage spaces

8

Pool

None

Status

Active

Days on market

0

MLS #

247948564

About this property

1861 W Martin Luther King Jr Blvd presents an attractive opportunity to acquire a 12-unit multifamily property in Los Angeles, offered at $1,895,000. The property features a desirable unit mix of (11) 1 Bed/1 Bath units and (1) 2 Bed/1 Bath unit, complemented by 8 on-site parking spaces and a generously sized lot exceeding 10,000 square feet. The property offers strong in-place returns with a 7.56% cap rate and 8.12 GRM, providing investors with an attractive day-one yield and additional upside through future rent optimization. Four units are currently occupied by subsidized tenants, providing a portion of the property’s income from government-supported rental programs. Ideally situated in Los Angeles’ 90062 submarket, 1861 W Martin Luther King Jr Blvd offers convenient access to major employment centers, retail, transportation, and surrounding neighborhoods. The combination of strong in-place performance, a favorable unit mix, ample parking, and additional rental upside makes this an appealing addition to a multifamily investment portfolio.

Location

1861 W Martin Luther King Jr Boulevard

Los Angeles, Los Angeles, CA, 90062