Non Rent Controlled 2024 Luxury 6 Unit | QOZ 3438 Potomac Ave
6 Unit Apartment Building $4,495,000 ($749,167/Unit) 5.38% Cap Rate Los Angeles, CA 90016
INVESTMENT HIGHLIGHTS
- OPPORTUNITY ZONE! Major tax benefit (consult CPA).
- Outstanding projected cap rate of 5.38%! Cash cow.
- IDEAL parking! 2 spots per unit! Total of 12.
- Located in ultra trendy and highly sought after West Adams- A major draw for A+ tenants!
- MASSIVE units (9,144 livable square feet) with premium floorplans.
- Outstanding unit mix consisting of two 4 bedrooms and four 3 bedrooms!
EXECUTIVE SUMMARY
3438 Potomac Ave is a massive OPPORTUNITY ZONE brand new construction 6-unit on an enormous lot (OVER 9,000 SF0 located in trendy West Adams, just walking distance to countless high-end shops, galleries & notable eateries such as Highly Likely Cafe, Thinkspace Gallery and The Bar at Johnny's! This luxury 6-unit boasts an excellent projected 5.38% cap rate & $321,600 in yearly gross rent!
Made up of an ideal unit mix (2x 4b/4b, 2x 3b/4b, 2x 3b/3.5b) with large open floor plans, ultra-trendy design, huge balconies, upgraded finishes and TONS of PARKING (2 SPOTS PER UNIT)! Thanks to its A++ location, this will be an extremely easy to manage, high cash flow property for years to come! This one-of-a-kind opportunity will not last long!
www.myunits.com/buy/3438potomac
Made up of an ideal unit mix (2x 4b/4b, 2x 3b/4b, 2x 3b/3.5b) with large open floor plans, ultra-trendy design, huge balconies, upgraded finishes and TONS of PARKING (2 SPOTS PER UNIT)! Thanks to its A++ location, this will be an extremely easy to manage, high cash flow property for years to come! This one-of-a-kind opportunity will not last long!
www.myunits.com/buy/3438potomac
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income | $321,600 | $35.17 |
Other Income | - | - |
Vacancy Loss | $12,864 | $1.41 |
Effective Gross Income | $308,736 | $33.76 |
Taxes | $53,913 | $5.90 |
Operating Expenses | $12,830 | $1.40 |
Total Expenses | $66,743 | $7.30 |
Net Operating Income | $241,993 | $26.46 |
PROPERTY FACTS
Price | $4,495,000 |
Price Per Unit | $749,167 |
Sale Type | Investment |
Cap Rate | 5.38% |
Gross Rent Multiplier | 13.98 |
No. Units | 6 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | B |
Lot Size | 0.21 AC |
Building Size | 9,144 SF |
Average Occupancy | 0% |
No. Stories | 3 |
Year Built | 2024 |
Parking Ratio | 1.31/1,000 SF |
Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Views
- Double Pane Windows
- Freezer
- Handrails
- Vinyl Flooring
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
3+3.5 | 2 | $4,250 | 1,242 |
3+4 | 2 | $4,350 | 1,472 |
4+4 | 2 | $4,800 | 1,858 |
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Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (75)
ZONING
Zoning Code | RD1.5-1 (Brand New - 3 Duplex Buildings) |