Listed by Global Platinum Properties
$2,595,000
6337 10th Ave
Details
APN 4006-011-021
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8,309
Units 6
Cap Rate 6.25%
NOI $162,126
Occupancy 83%
Pro-Forma Cap Rate 7.21%
Pro-Forma NOI $186,405
Price per SqFt $312
Year Built 1990
Buildings 1
Stories 2
Lot Size (SqFt) 11,340
Zoning R3-1
Parking Spaces 12 spaces
Parking per 1,000 SqFt 1.44
Ownership Fee Simple
Multifamily | 6 Units | $432,500/unit
Marketing description
Incredible opportunity in the vibrant city of Los Angeles! This charming 6-unit property offers a remarkable chance to enhance and expand your real estate portfolio. With an attractive 6.25% Cap Rate, this 1990 constructed property (buyer to do own diligence on RSO restrictions), showcases significant potential for multiple ADUs and substantial rental growth. Spanning a generous 8,309 square feet on an expansive 11,000 square foot lot, this property also boasts an astounding 12 parking spaces and features four spacious 4-bedroom units, perfect for families, alongside two inviting 2-bedroom units.
An assumable $1.56 million dollar loan with a remarkably low 3.17% interest rate, securely locked in until 2028 (with capped increases thereafter), results in notable positive leverage. With a 60% Loan-To Value ratio (LTV) and a fantastic cash-on-cash return of 10.9%, this opportunity embodies an excellent investment prospect! This is a unique opportunity to secure today's pricing at > 6% cap rates + interest rates of 4 years ago + a reasonably high LTV, the combination of
which are virtually unheard of in this market. Don't miss out on this outstanding opportunity!
Listing Contacts
Listed by Global Platinum Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$162,126.00
$13,510.50/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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