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

20

Building size

7,700 sqft

Lot size

5,414 sqft

Year built

1922

Stories

2

Heating

Wall Furnace

Status

Active

Days on market

0

MLS #

248860938

About this property

Huge 750k Price Reduction! Renovated 20-unit apartment building cash flowing at an amazing Current 8.25% Cap Rate from day 1 with upside to a 12.2% Cap on Proforma! Fully Approved RTI plans to add 4 attached ADUs to achieve a remarkable 10% Current Cap Rate, 13.5% Proforma Cap, and only $169k/unit after taking into account all constructions costs (~322k assuming $350/SF). The property features 20 Spacious and easy to rent studios each with their own separate kitchen and bathrooms. Almost every single unit (95%) has been upgraded with updated cabinets, flooring, kitchens, bathrooms, as well as exterior improvements including renovated hallways. The property also offers an on-site laundry room, which could be re-opened to generate additional income. Located in the heart of Westlake, just steps away from trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Highly walkable area surrounded by shops, restaurants, and major transit lines, the property combines steady cash flow with exceptional long-term upside in a prime urban corridor.

Location

1344 W 4th Street

Los Angeles, Los Angeles, CA, 90017