Property listed by JNM Realty, INC., Demis Dokhanian 310-746-5923
$6,250,000
JNM Realty Inc is proud to present, on an exclusive basis, a 22-unit low-rise apartment complex in the heart of East Hollywood with tremendous in-place cash flow. The asset has been professionally managed and maintained over the past 11 years and presents the opportunity for a new investor to improve… Read More the facility and its financial output through extended renovations. Community amenities include a pool, laundry room, and onsite parking. The property has been extremely well-maintained with improvements to the exterior facade and sixteen (16) of twenty-two (22) units fully renovated featuring new flooring, electrical, plumbing, and mini splits. There are (17) onsite parking spaces, non-tandem. A qualified investor could assume the favorable 3.20% interest-only rate through March 2026, amortizing through March 2027. This results in an 8.51% cash on cash return immediately upon acquisition. Through renovations and improvements, the property has the potential to reach a 7.02% stabilized cap rate and a 13.87% cash on cash return. Additional potential upside through ADUs through utilizing the onsite parking. Buyer to verify. Read Less
Listing Snapshot
Days Online
4
Last Updated
Property Type
Other
Beds
20
Square Ft.
15,320
Lot Size
0.39 Acres
Year Built
1957
MLS Number
25553221
30 Days Snapshot Of 90027
$2.80M
+42%
(avg) sold price
12
-33%
homes sold
90
+52%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dryer, Washer
Building
Built in 1957, Building area total: 15,320, Levels: MultiSplit, Living area: 15320, 1 building
Community
Gated, Pool
Income
Gross income: $488,274, Net operating income: $318,784
Laundry
CommonArea
Lot
0.3941 acres, 17,165 square feet, Size: 17,165
Parking
11 open parking spaces, 17 totals parking, Covered
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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