1050 S Park View St

21 Unit Apartment Building $3,600,000 ($171,429/Unit) 5.39% Cap Rate Los Angeles, CA 90006

EXECUTIVE SUMMARY

The Park View 21 consists of 3 street level commercial units + 18 residential studios. Delivered with 3 VACANT residential units, the property provides an owner the opportunity to add immediate value through a renovation and lease-up process. Situated on the Northeast corner of Park View St and 11th St, this building is strategically located in the rapidly changing Pico Union submarket adjacent to Downtown LA. This pocket has become increasingly sought after by tenants for its proximity to Downtown LA, Koreatown, and the high-density composition of the neighborhood. Seller is open to discussing Seller financing scenarios. Contact the listing team for additional information.

FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS

Price $3,600,000
Price Per Unit $171,429
Sale Type Investment
Cap Rate 5.39%
Gross Rent Multiplier 11.46
No. Units 21
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.14 AC
Building Size 10,948 SF
No. Stories 2
Year Built 1923

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 21 - 300 - 1,200
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (78)
Bike Score®
Very Bikeable (78)

PROPERTY TAXES

ZONING

Zoning Code C2-2, Los Angeles
  • Listing ID: 31514864

  • Date on Market: 4/15/2024

  • Last Updated:

  • Address: 1050 S Park View St, Los Angeles, CA 90006