4313 Main St, Los Angeles, CA 90037
10 Unit Apartment Building | $1,950,000 ($195,000/Unit) | 8.59% Cap Rate | Los Angeles, CA 90037
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,950,000
- Property Type
-
Multifamily
- Square Feet
- 6,501 SF
Listing Contacts
Rob Zaharia
Verified Profile
Jake Malloy
Verified Profile
Tim Steuernol
Verified Profile
- Property Info
Property Overview
Price just reduced over $200k with Motivated Seller!
Exclusively listed for sale by the multifamily team at NAI, 4313 S Main St presents a phenomenal value-add opportunity within South Los Angeles, near Exposition Park and the Coliseum.
Built as an 8-unit, the property currently has the benefit of 5 recent vacancies with the potential for more. ALL VACANT UNITS WILL BE DELIVERED COMPLETELY REMODELED AND RENT-READY FOR A NEW OWNER. One of the 1-bedroom units will converted to a 2-bed during the renovation process.
Upon lease up at current Section 8 rates, the after-cost CAP rate on this property is well over 8% with additional upside in turning the remaining occupied units. This offers a buyer looking for long-term stable cash flow an ideal opportunity.
Reach out to the listing team for the full OM and more details.
Exclusively listed for sale by the multifamily team at NAI, 4313 S Main St presents a phenomenal value-add opportunity within South Los Angeles, near Exposition Park and the Coliseum.
Built as an 8-unit, the property currently has the benefit of 5 recent vacancies with the potential for more. ALL VACANT UNITS WILL BE DELIVERED COMPLETELY REMODELED AND RENT-READY FOR A NEW OWNER. One of the 1-bedroom units will converted to a 2-bed during the renovation process.
Upon lease up at current Section 8 rates, the after-cost CAP rate on this property is well over 8% with additional upside in turning the remaining occupied units. This offers a buyer looking for long-term stable cash flow an ideal opportunity.
Reach out to the listing team for the full OM and more details.
Property Details
- Class
- C
- Year Built
- 1962
- Stories
- 2
- Lot Size (sq. ft)
- 6,970 SF
- Units
- 10
Highlights
- Five Current Vacancies Delivered Fully Renovated and Rent-Ready
- Plans for an Additional 2 ADU Units RTI
- One Townhouse Units Already Completely Renovated and Rent-Ready
- Phenomenal Long-Term Cash-Flow Property
- Extremely Clean and Well Maintained Property
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