3438 McKinley Ave
8 Unit Apartment Building $1,450,000 ($181,250/Unit) 5.10% Cap Rate Los Angeles, CA 90011
INVESTMENT HIGHLIGHTS
- Excellent 8 Unit apartment building with approximately 105% in rental upside!
- Excellent unit mix of oversized (8) 2-Bed/1-Bath Units in a growing neighborhood of Los Angeles
- Stabilizes at 13.05% Cap rate and 5.78 GRM
EXECUTIVE SUMMARY
50K Price Reduction! 3438 McKinley Ave is a value add opportunity located in the heart of Los Angeles. This well maintained 8-Unit apartment building is comprised of all oversized (8) 2-Bed/1-Bath units with 105% in Rental upside! Stabilizes at a 13.95% cap rate and 5.60 GRM, this asset is ideal for any savvy investor to unlock the income potential. Built in 1930, the subject property is an 8 unit apartment spread out over 8,816 Sq. Ft situated on a 6,700 Sq. Ft lot, 3438 McKinley is a unique value-add opportunity in an extremely fast growing rental market of Los Angeles. Priced at $164/Sq. Ft, this building is perfect for any exchange buyer or value add investor to maximize their portfolio. 3438 McKinley is located just minutes from USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art's District, The Reef, BMO Stadium, LA Live and billions of dollars worth of development pouring into the neighborhood.
PROPERTY FACTS
| Price | $1,450,000 |
| Price Per Unit | $181,250 |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| Gross Rent Multiplier | 11.47 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 8,816 SF |
| No. Stories | 2 |
| Year Built | 1928 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 8 | $1,642 | - |
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Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 5114-016-011 | Improvements Assessment | $753,520 |
| Land Assessment | $656,186 | Total Assessment | $1,409,706 |
ZONING
| Zoning Code | LARD1.5 |
