3215 18Th St, Los Angeles, CA 90019
7 Unit Apartment Building | $1,050,000 ($150,000/Unit) | 4.65% Cap Rate | Los Angeles, CA 90019
For Sale
Active
Asking Price $1,050,000
- Property Type
-
Multifamily
- Square Feet
- 5,133 SF
Listing Contacts
Rob Renshaw
Jonathan Taksa
Property Overview
Rob Renshaw and Jonathan Taksa of Taksa Investment Group, part of RE/MAX Commercial & Investment Realty, are pleased to present the exclusive opportunity to purchase a 7-unit income property in the burgeoning Mid-City / Arlington Heights neighborhood of Los Angeles.
3215 W 18th St was built in 1961 and added on to the original single family home that was built on the property in 1908. The legal 7-unit building is comprised of (6) 2-bedroom, 1-bathroom units and (1) studio* unit. There is carport and surface parking for 6 vehicles and the required soft story retrofit work was completed in 2020. The property is fully gated including the parking area. There is also a large shared outdoor space that can be used by tenants.
Arlington Heights and its neighbors, West Adams and Jefferson Park, have seen a dramatic resurgence over the past several years. Many new businesses, restaurants, coffee shops, and even art galleries have entered the market to serve residents. The area is densely populated with about 20,000 people living in roughly 1 square mile. Public schools score above average, for the most part.
3215 W 18th offers the savvy investor a unique opportunity to purchase a quality multifamily asset at an attractive cost basis with significant remaining upside potential.
* Certificate of Occupancy indicates guest room
3215 W 18th St was built in 1961 and added on to the original single family home that was built on the property in 1908. The legal 7-unit building is comprised of (6) 2-bedroom, 1-bathroom units and (1) studio* unit. There is carport and surface parking for 6 vehicles and the required soft story retrofit work was completed in 2020. The property is fully gated including the parking area. There is also a large shared outdoor space that can be used by tenants.
Arlington Heights and its neighbors, West Adams and Jefferson Park, have seen a dramatic resurgence over the past several years. Many new businesses, restaurants, coffee shops, and even art galleries have entered the market to serve residents. The area is densely populated with about 20,000 people living in roughly 1 square mile. Public schools score above average, for the most part.
3215 W 18th offers the savvy investor a unique opportunity to purchase a quality multifamily asset at an attractive cost basis with significant remaining upside potential.
* Certificate of Occupancy indicates guest room
Property Details
- Class
- C
- Year Built
- 1961
- Stories
- 2
- Lot Size (sq. ft)
- 6,534 SF
- Units
- 7
Highlights
- Super attractive cost basis of $150,000 per unit for almost all 2-bed units
- Massive rental upside potential
- Great Arlington Heights location
- Large corner lot
- Soft story retrofit complete
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