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Listed by Harry Alexander • Equity North Investments Inc.
$ 3,257,000
Est. payment | /mo
12,752 SqFt
$ 3,257,000
Est. payment | /mo
12,752 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,752 sqft
Price per Sqft $255
MLS Listing ID CRRS24095513
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1965
Lot Size 0.397 Acres
Property Description
The subject property is a 16-unit multifamily 2 story apartment building build in 1965 located at 1515 W 103rd St Los Angeles CA 90047. The building is approximately 12,752 Sq Ft and sits on a 17,282 Sq Ft lot, with 26 bedrooms and 22 bathrooms comprised of 2-3 bedroom 2 bath units, 4-2 bedroom 2 bath units 2-2 bedrooms 1 bath and 8-1-bedroom 1 bath units. This property offers a tremendous opportunity for long term growth and stability, opportunity to add value through long term rental increases, current rents are 35% under market rents. Investments should result in a stabilize 9.5 + CAP rate. The building offers modern convenience with extra-large floor plans, great amenities and low maintenance to include full laundry facility, covered car ports and low vacancy. These benefits will keep the building’s chances of operating at full occupancy, as well as fundamentally serve as a comfortable living establishment for tenants, allowing the property to realize an upside in overall rental income and property value appreciation over the next five - ten years.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Other
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