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    1962 W 22ND Street

    Los Angeles (City), CA 90018
    • $1,595,000
    • STATUS: Active
    • ON SITE: 145 days
    • ID#: 20583792
    UPDATED: 165 min ago
    $1,595,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    Built in 1964, this unique 8-unit property totals 5,866 SF located in Mid-City's Adams-Normandie neighborhood, between Normandie Ave & S Western Ave. The building features a unit mix that includes 2 one-bedroom and 6 two-bedroom two-bath apartments.This offering presents an investor the opportunity to capture a 83% overall increase in rent with a pro forma CAP rate of 8.41% through renovations when the units turn. The property is being offered at a 14.63 GRM on current income and a low price per unit of $199,375 and a low price per square foot of $272. The property features 8 parking spaces and the soft story retrofit work has been completed. Furthermore, there is a community laundry room for the building.Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-21T00:29:00.26. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/106309536
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    1962 W 22ND Street Los Angeles (City), CA 90018

    • Price: $1,595,000
    • Status: Active
    • Updated: 165 min ago
    • ID#: 20583792
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    1964
    Built
    Neighborhood:
    C16 - Mid Los Angeles
    County:
    Los Angeles
    Area:
    C16 - Mid Los Angeles
    Property Description
    Built in 1964, this unique 8-unit property totals 5,866 SF located in Mid-City's Adams-Normandie neighborhood, between Normandie Ave & S Western Ave. The building features a unit mix that includes 2 one-bedroom and 6 two-bedroom two-bath apartments.This offering presents an investor the opportunity to capture a 83% overall increase in rent with a pro forma CAP rate of 8.41% through renovations when the units turn. The property is being offered at a 14.63 GRM on current income and a low price per unit of $199,375 and a low price per square foot of $272. The property features 8 parking spaces and the soft story retrofit work has been completed. Furthermore, there is a community laundry room for the building.Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year.
    Exterior Features

    Construction Materials Stucco Direction Faces North Foundation Details Slab Lot Size Source Assessor Lot Size Units Square Feet Parking Features Covered Parking YN Yes

    Interior Features

    Flooring Vinyl Laundry Features Community

    Property Features

    Gross Income 109000.00 Gross Multiplier 14.63 Gross Operating Income 105730.00 Insurance Expense 2933.00 Laundry YN Yes Net Operating Income 60402.00 New Taxes Expense 18662.00 Senior Community YN No Special Listing Conditions Standard Taxes Percent 1.17 Tenant Pays Electricity Total Actual Rent 8982.00 Total Expenses 45328.00 Zoning R3-1-Cpio

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-21T00:29:00.26. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

     
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