RENTAL INCOME: $398,892.00 per year / $33,241.00 per month - CURRENT CAP RATE 5.3 % / CURRENT GRM 9.5 Excellent opportunity to acquire a 26-unit apartment building in the Downtown L.A. area just south of the 10 Freeway. This 3-story, 16,152 sq. ft. building resides on an 8,823 sq. ft. corner lot which consists of thirteen 1 bed/1bath units and thirteen studios. The building is currently generating $398,892.00 per year in rental income. Tremendous upside potential that is perfect for the investor looking to add more units to their portfolio at a low $146,154.00 cost per door / $235.26 cost per square foot. The building is well taken care of and all units are mastered metered allowing for 6% yearly rental increases. The property is located several blocks south of the 10 Freeway on an excellent and quiet stretch of Maple Ave and directly across the street from the Santee Education Complex. Excellent on-site management and the asset is positioned in the northwest area in the 90011 zip code 1.5 miles from the Crypto.com Arena. Large 1,000 sq. ft. plus basement that can potentially be used as laundry area. PRO FORMA CAP RATE 7.86 % / PRO FORMA GRM 7.9
|
DAYS ON MARKET
|
25
|
LAST UPDATED
|
3/8/2025
|
|
YEAR BUILT
|
1911
|
COMMUNITY
|
Downtown L.A.
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
None |
| APPLIANCES |
Refrigerator |
| AREA |
Downtown L.A. |
| GARAGE |
None |
| LOT |
8823 sq ft |
| LOT DIMENSIONS |
60x147 |
| PARKING |
None |
| STORIES |
3 |
| ZONING |
LAC2 |
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Listed with Ashby & Graff
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/1/25 11:18 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
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