553 Flores St, Los Angeles, CA 90048
6 Unit Apartment Building | $2,550,000 ($425,000/Unit) | 5.73% Cap Rate | Los Angeles, CA 90048
For Sale
Active
Asking Price $2,550,000
- Property Type
-
Multifamily
- Square Feet
- 7,087 SF
Listing Contacts
Sam Liberow
- Property Info
Property Overview
Excellent Unit Mix: The property is extremely well balanced when it comes to the unit mix, offering one 1+1, one 2+2, one 3+3, two 3+2’s, and RTI plans for one 2+2 ADU. This diverse unit mix attracts a wide range of tenants, from young professionals to families, ensuring high occupancy rates and reducing vacancy risks. It also mitigates economic risks by appealing to multiple tenant pro?les, enhancing marketability and tenant retention.
Prime Location: Positioned in the heart of West Hollywood, this property isn't just an investment; it's a gateway to Los Angeles' cultural epicenter. Imagine owning a piece of real estate where excitement and convenience converge. From iconic landmarks such as The Grove, Farmers Market, and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental rates. Nearby restaurants include Catch LA, Sushi Gina Onodera, and Urth Caffe to name a few and the world renowned “Golden Triangle” in Beverly Hills is a short 10 minute drive away!
Walker's Paradise: With a stellar Walk Score of 93, this property caters to the modern lifestyle, where convenience reigns supreme. Tenants revel in the freedom to stroll to nearby attractions, fostering a sense of community and reducing reliance on transportation. As an investor, this translates to higher tenant retention rates and enhanced property desirability.
Stabilized Asset: Seize the opportunity to acquire stabilized asset in this supply-constrained market at an attractive 5.73% CAP Rate. Three of the ?ve units have been extensively renovated, achieving market rents with an in-unit washer and dryer. The seller has gone through the extensive process of getting plans for the ADU approved, helping to increase the rental income potential. Tap into this prime rental market and position yourself for strong ?nancial growth over time.
Desirable Demographics: West Hollywood boasts a robust average household income of nearly 131K within 1 mile of the subject property, re?ecting the area's affluent demographic and strong purchasing power. This economic stability contributes to a favorable investment climate and ensures continued demand for quality rental accommodations.
Opportunity Overview: 553 Flores Ave presents a compelling investment proposition characterized by strong fundamentals, a prime location in the heart of West Hollywood district, exceptional walkability, and promising growth prospects over time. With its solid economic pro?le and strategic positioning, this property embodies a lucrative opportunity for discerning investors seeking to capitalize on the dynamic Los Angeles real estate market.
Prime Location: Positioned in the heart of West Hollywood, this property isn't just an investment; it's a gateway to Los Angeles' cultural epicenter. Imagine owning a piece of real estate where excitement and convenience converge. From iconic landmarks such as The Grove, Farmers Market, and Melrose Avenue to numerous eclectic boutiques, the allure of this locale translates to high tenant demand and premium rental rates. Nearby restaurants include Catch LA, Sushi Gina Onodera, and Urth Caffe to name a few and the world renowned “Golden Triangle” in Beverly Hills is a short 10 minute drive away!
Walker's Paradise: With a stellar Walk Score of 93, this property caters to the modern lifestyle, where convenience reigns supreme. Tenants revel in the freedom to stroll to nearby attractions, fostering a sense of community and reducing reliance on transportation. As an investor, this translates to higher tenant retention rates and enhanced property desirability.
Stabilized Asset: Seize the opportunity to acquire stabilized asset in this supply-constrained market at an attractive 5.73% CAP Rate. Three of the ?ve units have been extensively renovated, achieving market rents with an in-unit washer and dryer. The seller has gone through the extensive process of getting plans for the ADU approved, helping to increase the rental income potential. Tap into this prime rental market and position yourself for strong ?nancial growth over time.
Desirable Demographics: West Hollywood boasts a robust average household income of nearly 131K within 1 mile of the subject property, re?ecting the area's affluent demographic and strong purchasing power. This economic stability contributes to a favorable investment climate and ensures continued demand for quality rental accommodations.
Opportunity Overview: 553 Flores Ave presents a compelling investment proposition characterized by strong fundamentals, a prime location in the heart of West Hollywood district, exceptional walkability, and promising growth prospects over time. With its solid economic pro?le 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
- 1963
- Stories
- 2
- Lot Size (sq. ft)
- 5,663 SF
- Units
- 6
Highlights
- Excellent Unit Mix
- Prime Location
- Walker's Paradise
- Stabilized Asset
- Desirable Demographics
- Opportunity Overview
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].