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27304716
27305150

2 Locations

BW
CA 01330706
CBRE - South Bay
Listed by CBRE - South Bay
$8,090,000
246 days on market
Updated 106 days ago

41-Unit Portfolio Opportunity

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,674
Net Rentable (SqFt) 24,674
Units 41
Cap Rate 7.00%
NOI $565,707
Pro-Forma Cap Rate 9.23%
Pro-Forma NOI $746,328
Price per SqFt $328
Broker Co-Op Yes
Year Built 1957 & 1964
Buildings 3
Stories 2
Lot Size (SqFt) 31,411
Zoning LAC2
Investment Type Value Add

Blended 7.2% Cap. Can be sold separately.

Marketing description

24 units on over 20K sq. ft. ADU potential, too.

17 units along the Metro K Line in the Crenshaw Corridor.

ECONOMIES OF SCALE NEAR VIEW HEIGHTS.

First, a 24-unit complex made up of two 12-unit buildings that share a common, secured entry. There's an inherent efficiency of operation, here - two 12-unit buildings on each parcel; therefore, NO state-mandated on-site manager, required. Most units rehabbed over the recent past and dual-pane windows, throughout. Large lots - ADU additions possible in the rear.

Second, a 17-unit in the gentrifying Crenshaw Corridor. A hotbed of new private and municipal investment; for example, there are newer-construction apartments next door and across the street - and the Crenshaw Corridor Specific Plan includes the Metro K Line. This building has secured pedestrian and car access, newer dual-pane windows and has been seismically-retrofitted.

OTH ASSETS BENEFIT FROM CONSCIENTIOUS MAINTENANCE, THOUGHTFUL REHAB AND UPGRADES. STRONG MANAGEMENT AND OWNERSHIP, OVER THE YEARS.

6736-6800 West Blvd.

24 units on 2 lots of almost 21K sq. ft. total

9.45 GRM, 7.00% Cap Rate

Exclusively Listed at $4,895,000

6121 Crenshaw Blvd.

17 units on an almost 11K sq. ft. lot

9.56 GRM, 7.00% Cap Rate

Exclusively Listed at $3,195,000

Buildings can be sold separately.

Email or call with questions or interest.

Investment highlights

  • 17 units in the gentrifying Crenshaw Corridor

  • 24 units just over the Inglewood border

  • 2 APNs, double lot at West Blvd

  • Extensive rehab & new dual-pane windows throughout

  • Gated pedestrian and car access

  • Seismic retrofit completed

Listing Contacts

BW
CA 01330706
CBRE - South Bay
Listed by CBRE - South Bay

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$565,707.00
$47,142.25/mo

Valuation Metrics

0
DSCR
6.99%
Cap Rate
6.99%
ROI

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