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    3907 Roxanne Avenue

    Los Angeles (City), CA 90008
    • $2,750,000
    • STATUS: Active
    • ON SITE: 50 Days
    • ID#: 21779598
    $2,750,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    EXECUTIVE SUMMARY3907 Roxanne Ave is an attractive 12-unit gated apartment community located in Baldwin Village. The property consists of nine spacious one-bedrooms and three two-bedrooms. The living rooms are above average in size with large windows and layouts. The building has been well-kept throughout the years with recent exterior paint, common area courtyard with seating and community laundry room with two washers and two dryers. The property features nine gated parking spaces with the soft-story retrofit work already completed. As an investment, this property provides strong cash flow with current CAP rate of 4.28% on current income at the asking price. Additionally, there is over 21% in rental upside for a buyer to achieve through further interior renovations when units turn. The property is being offered with advantageous assumable financing in-place (loan must be assumed). The current lender is Ready-Cap with a 20-year loan, fixed at 3.67% interest until 2024.The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008 zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 3907 Roxanne Ave. The building benefits from a centralized location in Baldwin Village minutes from Kaiser Permanente, the Baldwin Hills Crenshaw Plaza Development and the Crenshaw Metro Line. Additionally, Los Angeles World Airports (LAWA) is in the midst of a $14 billion Capital Improvement Program at Los Angeles International Airport (LAX), projected to last through 2023. The LAX modernization program is considered the largest public works program in the history of the City of Los Angeles. Finally, Inglewood's new sports and entertainment complex SOFI Stadium to create 12,000 full- and part-time jobs annually.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. 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/121131809
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    3907 Roxanne Avenue Los Angeles (City), CA 90008

    • Price: $2,750,000
    • Status: Active
    • ID#: 21779598
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    1957
    Built
    Neighborhood:
    PHHT - Park Hills Heights
    County:
    Los Angeles
    Area:
    PHHT - Park Hills Heights
    Property Description
    EXECUTIVE SUMMARY3907 Roxanne Ave is an attractive 12-unit gated apartment community located in Baldwin Village. The property consists of nine spacious one-bedrooms and three two-bedrooms. The living rooms are above average in size with large windows and layouts. The building has been well-kept throughout the years with recent exterior paint, common area courtyard with seating and community laundry room with two washers and two dryers. The property features nine gated parking spaces with the soft-story retrofit work already completed. As an investment, this property provides strong cash flow with current CAP rate of 4.28% on current income at the asking price. Additionally, there is over 21% in rental upside for a buyer to achieve through further interior renovations when units turn. The property is being offered with advantageous assumable financing in-place (loan must be assumed). The current lender is Ready-Cap with a 20-year loan, fixed at 3.67% interest until 2024.The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008 zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 3907 Roxanne Ave. The building benefits from a centralized location in Baldwin Village minutes from Kaiser Permanente, the Baldwin Hills Crenshaw Plaza Development and the Crenshaw Metro Line. Additionally, Los Angeles World Airports (LAWA) is in the midst of a $14 billion Capital Improvement Program at Los Angeles International Airport (LAX), projected to last through 2023. The LAX modernization program is considered the largest public works program in the history of the City of Los Angeles. Finally, Inglewood's new sports and entertainment complex SOFI Stadium to create 12,000 full- and part-time jobs annually.
    Exterior Features

    Parking Features Gated

    Interior Features

    Heating Natural Gas Heating YN Yes

    Property Features

    Gross Income 206844 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 117731 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lar3

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. 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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