8638 Cashio St, Los Angeles, CA 90035

8 Unit Apartment Building | $2,750,000 ($343,750/Unit) | 4.73% Cap Rate | Los Angeles, CA 90035

Asking Price $2,750,000

Property Type: Multifamily
Square Feet: 8,530 SF

Listing Contacts

Kenny Stevens

Property Overview

Built in 1963, 8638 Cashio features (6) 2-bdrm. units & (2) 2-bdrm. units, and (2) 1-bdrm. units. These bright and spacious units average approx. 1,000 SF. Please note, the units facing Cashio St. are equipped with balconies. Renovated units include quartz countertops, wood-laminate flooring, stainless-steel appliances, and more. 8638 Cashio is a value-add opportunity offering approx. 45% rental upside. The property will stabilize at a 7.96% CAP and 9.38 GRM at projected market rents. Please note, Unit 7 was rented in July 2024 for $3,125.
8638 Cashio is adjacent to Beverly Hills and Carthay Square, 2 exclusive neighborhoods under constant demand by high-income young professionals and families. The property is 1.1 miles from Wilshire Blvd, providing convenient access to the METRO Purple Line La Cienega Station (expected completion in 2025), and a wealth of financial, entertainment, healthcare, and law employers along Wilshire Blvd and the greater Beverly Hills area. In addition, 8638 Cashio is near the Beverly Hills Tennis Club and La Cienega Park & Recreation Center.

Property Details

Class: C
Year Built: 1963
Stories: 2
Lot Size (sq. ft): 8,712 SF
Units: 8

Highlights

Located just south of Pico Blvd and Robertson Blvd, this well-maintainedproperty is minutes from Beverly Hills and Carthay Square
Built in 1963, the property features an enticing unit mix consisting of (6) 2- bdrm. and 2-bath units and (2) 1-bdrm. units.
These bright and spacious units average approx. 1,000 SF. Please note, the units facing Cashio St. are equipped with balconies.
Renovated units include quartz countertops, wood-laminate flooring, stainless- steel appliances, and more.
Approx. 45% rental upside, 7.96% CAP and 9.38 GRM on projected market rents (Unit 7 was rented in July 2024 for $3,125).
Property amenities include 5 tandem parking spaces, 4 single carports, and community laundry.

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