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28739251
28739252

1949 W Martin Luther King Jr Blvd, Los Angeles, CA 90062

CM
02079387
KW Commercial Pasadena
Listed by KW Commercial Pasadena
$2,395,000
186 days on market
Updated 93 days ago
Opportunity zone

1949 West Martin Luther King

Details
APN 5035006011
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,762
Units 8
Cap Rate 5.95%
NOI $142,590
Pro-Forma Cap Rate 7.63%
Pro-Forma NOI $182,664
Price per SqFt $503
Year Renovated 2022
Buildings 1
Stories 2
Lot Size (SqFt) 8,912
Parking Spaces 10 spaces
Parking Per SqFt 2.10

Multifamily | 8 Units | $299,375/unit

Marketing description


KingSide Investment Group of Keller Williams Downtown Los Angeles is proud to offer a tremendous investment opportunity - an 8 unit apartment offering. Located in the Leimert Park neighborhood, the subject property is centrally located offering quick access to premium entertainment such as The LA Memorial Coliseum and The Natural History Museum. The property is located a few miles from USC which provides access to a strong student rental market. The building has a diverse mix of 4 two-bedroom, and four studio units. Seven of the eight units have been completely remodeled with brand new electrical, plumbing, and mechanical. These units are also completely sub-metered for gas, electrical, and water resulting in an extremely low utility expense which is rare in the Los Angeles market. Due to the renovations the expense profile of the property is extremely low, and will allow for strong cash flow immediately.

Investment highlights

  • Newly Renovated Units Achieving High Rents

  • Strong Cash Flow from Day 1

  • Below Average Expense Profile

  • Gentrifying Area Allowing for Above Average Appreciation

  • Large Parking Lot

Listing Contacts

CM
02079387
KW Commercial Pasadena
Listed by KW Commercial Pasadena

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$142,590.00
$11,882.50/mo

Valuation Metrics

0
DSCR
5.95%
Cap Rate
5.95%
ROI

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