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

7

Building size

3,655 sqft

Lot size

5,881 sqft

Year built

1907

Stories

2

Heating

Wall Furnace

Cooling

None

Status

Active

Days on market

0

MLS #

248974465

About this property

We are pleased to present this 7-unit apartment community located at 205 W Vernon Ave, less than 10 minutes away from Downtown Los Angeles, offered at a 7.91 GRM on current rents with upside potential to achieve an 8.31% CAP and 6.24 GRM with proforma rents. This opportunity consists of a two-story building offering a total of 3,655 rentable square feet. Built in 1907, the property is situated on a 5,881-square-foot LAC2 zoned lot with five uncovered parking spaces in the rear. The unit mix consists of one (1) two-bedroom one-bathroom unit, three (3) one-bedroom one-bathroom units, and three (3) studio units, with 4 out of 7 units having been renovated. One studio and a one-bedroom unit will be delivered VACANT at closing. Nearby amenities include the Gilbert Lindsay Recreation Center, Trader Joe's, the Ross Snyder Recreation Center, Superiors Grocers, USC, The Coliseum, LAFC, Crypto.com Arena, The Convention Center, and various employment opportunities within the direct vicinity of the property. Contact the listing broker for additional information.

Location

205 W Vernon Avenue

Los Angeles, Los Angeles, CA, 90037