Vermont Apartments | 15944 Vermont Ave
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Vermont Apartments 15944 Vermont Ave
20 Unit Apartment Building $3,900,000 ($195,000/Unit) 5.24% Cap Rate Paramount, CA 90723
Investment Highlights
- 30% upside in rents
- Value Add Opportunity
Executive Summary
The subject property is a 20 unit apartment complex in the City of Paramount. The property was constructed in 1959 and contains sixteen one bedroom one bath units and four two bedroom one bath units. The units are separately metered for both gas and electricity. This offering presents an outstanding opportunity for investors to add value through renovation. The current rents are over 30% below market rates. The City of Paramount doesn't have a local rent control ordinance so owners are only bound by California AB 1482.
Paramount is located approximately 10 miles SE of downtown LA and enjoys easy access to the 105, 710 and 91 freeways.
Paramount is located approximately 10 miles SE of downtown LA and enjoys easy access to the 105, 710 and 91 freeways.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Site Amenities
- Courtyard
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | $1,379 | 620 |
| 2+1 | 4 | $1,626 | 800 |
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Walk Score ®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 7103-008-022 | Total Assessment | $578,159 |
| Land Assessment | $64,144 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $514,015 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
7103-008-022
Land Assessment
$64,144
Improvements Assessment
$514,015
Total Assessment
$578,159
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | PARM* |
| PARM* |
-
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Marcus & Millichap
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Vermont Apartments | 15944 Vermont Ave
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