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

8

Building size

10,670 sqft

Lot size

7,040 sqft

Year built

1929

Stories

2

Heating

Wall Furnace

Cooling

None

Status

Active

Days on market

8

MLS #

248204547

About this property

6701 S San Pedro is an eight-unit apartment complex located in South Los Angeles, near Gage and east of the110 freeway. The building has an excellent unit mix of (2) 4 bedroom - 2 bath units, (2) 4 bedroom -1.5 bath units, (3) 3bedroom 1.5 bath units and 1-3 bedroom 1 bath unit. The complex is huge, boasting 10,670 square feet for an average of over 1,300 square feet per unit. The structure is situated on a corner lot and contains 7,040 square feet. Tenants will appreciate the large parking area behind the apartments. The building is in good condition, shows well and stands out in the area. Currently, the property is producing $13,845 per month. However, because the rents are substantially below market, this property has a market GRM of 6.03 and a market CAP of 12.67%. This is outstanding opportunity for an investor that understands how to utilize strategies to get the rents to market and enjoy double digit returns

Location

6701 S San Pedro Street

Los Angeles, Los Angeles, CA, 90003