PRIVATE FINANCING! $190/Unit | $211/SF 1758 S New England St
5 Unit Apartment Building $949,000 ($189,800/Unit) 4.38% Cap Rate Los Angeles, CA 90006
INVESTMENT HIGHLIGHTS
- PRIVATE FINANCING AVAILABLE
- 1 Unit Delivered Vacant at COE
- Tremendous Rental Upside
- Attractive $189,800/Unit and $211/SF
- Updated Electrical, Plumbing, Windows, and more
- Owner/User and/or Added Value Opportunity
EXECUTIVE SUMMARY
Jonathan Prakash of Equity Union Commercial is pleased to present a fantastic value-add and owner/user opportunity at 1758 S New England Street – a five-unit multifamily building located in the Pico-Union area of Los Angeles. The property has two buildings that consist of one (1) three-bedroom single family home and four (4) one-bedroom units. A one-bedroom unit is currently vacant and will remain vacant for a potential owner/user or a new investor.
The property totals 4,494 SF and sits on a 7,947 SF lot with a total of 6 open parking spaces. There is PRIVATE FINANCING available for the subject property for a new Buyer or an owner/user.
The owner has upgraded the property with the following: electrical (service, main panel, and sub-panels), copper plumbing in the units, new windows, newer roof replacements, and more (Buyer to verify and conduct due diligence). Further, the subject property has tremendous rental upside with a pro forma GRM of 8.15 and CAP rate of 8.94%.
The property totals 4,494 SF and sits on a 7,947 SF lot with a total of 6 open parking spaces. There is PRIVATE FINANCING available for the subject property for a new Buyer or an owner/user.
The owner has upgraded the property with the following: electrical (service, main panel, and sub-panels), copper plumbing in the units, new windows, newer roof replacements, and more (Buyer to verify and conduct due diligence). Further, the subject property has tremendous rental upside with a pro forma GRM of 8.15 and CAP rate of 8.94%.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$69,653
|
$15.50
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$28,053
|
$6.24
|
| Net Operating Income |
$41,600
|
$9.26
|
PROPERTY FACTS
| Price | $949,000 |
| Price Per Unit | $189,800 |
| Sale Type | Investment |
| Cap Rate | 4.38% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.22 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 4,494 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1913 |
| Parking Ratio | 1.34/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+2 | 1 | - | - |
1 of 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 5056-015-021 | Improvements Assessment | $127,870 |
| Land Assessment | $93,169 | Total Assessment | $221,039 |
ZONING
| Zoning Code | RD1.5, Los Angeles (RD1.5 Zoning TOC Tier 2 State Enterprise Zone) |
