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32277522
32277531

645 W 97th, Los Angeles, CA 90044

Marcus & Millichap - South Bay
Listed by Marcus & Millichap - South Bay
$1,450,000
31 days on market
Updated 4 days ago

645 W 97th

Details
APN 6054027027
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,990
Net Rentable (SqFt) 4,990
Units 3
Cap Rate 8.09%
NOI $117,275
Occupancy 67%
Price per SqFt $291
Year Built 2020
Buildings 2
Acreage 0.145
Zoning Assessor

Multifamily | 3 Units | $483,333/unit

Marketing description

645 West 97th Street is a 2020 construction home and duplex on one lot in South Los Angeles. This property presents a rare opportunity to acquire a non-rent controlled asset with all four-bedroom/three-bath units. Furthermore, the front home offers a new investor the opportunity to either owner-occupy or lease at market rate. The front home boasts a spacious 1,700-square foot floor plan with an attached two-car garage, and the rear duplex features side-by-side units with 1,561-square foot floor plans. All units feature open-concept living areas, spacious primary suites with walk-in closets, and cohesive modern finishes. Interior highlights include white shaker cabinetry, tile backsplashes, stainless steel range hoods, custom-tiled bathrooms, durable laminate flooring in common areas, and carpeting in bedrooms. All units include individual HVAC systems, in-unit laundry, and custom window coverings. The units are separately metered for all utilities, keeping owner expenses at a minimum. Located in South Los Angeles west of the 110 Freeway, the asset benefits from strong rental demand drivers, nearby schools and retail amenities, and ongoing area development.

Investment highlights

  • No Rent Control: 2020 construction asset not subject to rent control, allowing for full operational flexibility and the ability to achieve market rents
  • Strong Unit Mix: Rare offering of all four-bedroom/three-bath units, including a 1,700 SF front home and two 1,561 SF duplex units
  • Front Home Delivered Vacant: Spacious front residence with attached two-car garage delivered vacant, providing immediate owner-user potential or lease-up at market rents
  • Modern Finishes & Amenities: Open-concept layouts with white shaker cabinetry, tile backsplashes, custom bathrooms, laminate flooring, in-unit laundry, HVAC, and separately metered utilities for reduced operating expenses
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Listing Contacts

Marcus & Millichap - South Bay
Listed by Marcus & Millichap - South Bay

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$117,275.00
$9,772.92/mo

Valuation Metrics

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DSCR
8.09%
Cap Rate
8.09%
ROI

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