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32621692
32621688

6512 Olympic Blvd., Los Angeles, CA 90048

SS
CA 01965277
Berkshire Hathaway HomeServices Susan k Sanford
Listed by Berkshire Hathaway HomeServices Susan k Sanford
$2,300,000
21 days on market
Updated 9 days ago

6512 Olympic Blvd.

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,300
Units 4
Cap Rate 3.01%
NOI $15,036
Tenancy Multi
Year Renovated 2019
Lot Size (SqFt) 7,003
Parking Spaces 4 spaces
Parking Per SqFt 0.75
Investment Type Stabilized

Multifamily | 4 Units | Do not disturb tenants

Marketing description

Look into historical South Carthay and imagine owning 6512 Olympic Blvd. This well-maintained building, in close to original condition, is being sold after 35 years of ownership. The sellers originally lived on-site and have consistently rented all four units after their departure. The three Carthays are protected by city HPOZs plus listed on the national and state Historic Registry. For years to come this area of Los Angeles will be representative of what the city looked like 100 years ago. The four streamline, townhome-style units total 5,300 square feet and sit on a 7,003 sq ft lot. There are four parking spaces in covered garages.

Three units have two (2) bedrooms and one and a half (1.5) bathrooms. The central living spaces are large with high ceilings, casement windows and wood floor. The front unit has three (3) bedrooms and one and three-quarters (1.75) bathrooms and includes a gated courtyard. The back unit has a private yard as well.

Vacancy is not an issue at the building - for the past twenty years the only vacancy has been during tenant transitions. A unit is leased by an on-site manager/handyman. Tenants unaware of the sale. Inside showings with accepted offer.

Investment highlights

  • Well-maintained building, in close to original condition
  • The sellers have consistently rented all four units
  • Located within South Carthay - HPOZ and on the national and state Historic Registry
  • Vacancy is not an issue at the building
  • 2007 - Replaced all horizontal plumbing lines and the main water line
  • 2012 - Re-roofed the apartment building (Malarky 30-year fiberglass shingles)
  • 2019 - Painted building and garage
  • 2019 - Attic insulation (Applegate Stabilized Cellulose, Product #10-0005 R38

Listing Contacts

SS
CA 01965277
Berkshire Hathaway HomeServices Susan k Sanford
Listed by Berkshire Hathaway HomeServices Susan k Sanford

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Loan Amount
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Annual Cash Flow
$15,035.62
$1,252.97/mo

Valuation Metrics

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DSCR
0.65%
Cap Rate
0.65%
ROI

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