931 Mansfield Ave, Los Angeles, CA 90036
8 Unit Apartment Building | $2,550,000 ($318,750/Unit) | 4.14% Cap Rate | Los Angeles, CA 90036
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,550,000
- Property Type
-
Multifamily
- Square Feet
- 8,429 SF
Listing Contacts
Errol Spiro
Verified Profile
Jon Bloom
Verified Profile
- Property Info
Property Overview
931 S Mansfield is a charming French provincial 8 unit multi-family property in a highly sought after Miracle Mile & Mid Wilshire location. The subject property is two stories, approximately 8,429 SF and was built in 1930. This large property consists of 8 spacious 1 BR + 1 Bath units. Three of these eight units will be delivered VACANT at close of escrow. The other four units have rents well below market, creating a quintessential value-add opportunity for new ownership. There are garages located at the rear of the property that can potentially be converted into ADU units. There is also additional income generated monthly from onsite laundry. With its solid economic profile and strategic positioning, this property embodies a lucrative opportunity for discerning investors seeking to capitalize on the dynamic Los Angeles real estate market.
Property Details
- Class
- C
- Year Built
- 1931
- Stories
- 2
- Lot Size (sq. ft)
- 9,148 SF
- Units
- 8
Highlights
- Prime Miracle Mile and Mid-Wilshire Location. North of Olympic and West of Highland Ave.
- Beautiful French Provincial Building
- Eight (8) Spacious 1 BR + 1 Bath Units
- Three (3) of the eight (8) units will be delivered VACANT!
- Back garages that can potentially be converted into ADU Units
- Large two story building of approximately 8,429 SF that was built in 1930
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