This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Non-Rent Control Property – All 3BR THs 445 W 70th St

6 Unit Apartment Building $2,535,000 ($422,500/Unit) 4.26% Cap Rate Los Angeles, CA 90003

Investment Highlights

  • Rare True Non-Rent Control Property – Constructed in 2011
  • Bathroom Townhouse Units Averaging Over 1,500 Rentable Square Feet Each
  • Impressive Amenity Package – In-Unit Washer/Dryers, Central A/C, Granite Countertops, Walk-in Closets, Recessed Lighting, and Fireplaces in Each Unit
  • Not Currently Subject to AB 1482, Not Subject to Los Angeles Rent Control
  • Attractive 4.26% Current CAP Rate
  • Current Rents Average Only $1.63 per Square Foot

Executive Summary

Marcus & Millichap is pleased to announce the opportunity to purchase 445 W 70th Street, a six-unit multifamily property in Los Angeles, CA that is not currently subject to any rent controls. Constructed in 2011, the property consists entirely of well-appointed three-bedroom townhomes, each above its own private two-car garage. Offered at an attractive 4.26% current CAP Rate, this building provides an investor with a recently-constructed, high-end asset that still generates a strong, stable cash flow.
Each spacious floorplan includes three-bedroom and two-and-a-half bathrooms within more than 1,500 square feet. Tenants are attracted to the in-unit washer/dryers, granite countertops, central air/heat, fireplaces, walk-in closets, and high ceilings. Every apartment includes its own private balcony, private patio, breakfast bars, and tile flooring in the kitchen and entryway. A private two-car garage is attached to each unit, offering direct entry to the apartment. Each unit features its own individual water heater, while the entire premises are guarded by a security camera system.
Situated on a large corner lot, the property has frontage on Figueroa Street, one of the largest thoroughfares within Los Angeles, which helps when advertising a vacancy. The LA Live entertainment complex and Staples Center are less than six miles from the building, while several restaurants and grocery stores are within immediate walking distance. Tenants enjoy convenient access to the 110 Freeway, with the Florence Avenue onramp just blocks away.

Financial Summary (Actual - 2019)

Annual Annual Per SF
Gross Rental Income $181,200 $19.51
Other Income - -
Vacancy Loss $5,436 $0.59
Effective Gross Income $175,764 $18.92
Taxes $29,769 $3.20
Operating Expenses $38,022 $4.09
Total Expenses $67,791 $7.30
Net Operating Income $107,973 $11.62

Financial Summary (Actual - 2019)

Gross Rental Income
Annual $181,200
Annual Per SF $19.51
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual $5,436
Annual Per SF $0.59
Effective Gross Income
Annual $175,764
Annual Per SF $18.92
Taxes
Annual $29,769
Annual Per SF $3.20
Operating Expenses
Annual $38,022
Annual Per SF $4.09
Total Expenses
Annual $67,791
Annual Per SF $7.30
Net Operating Income
Annual $107,973
Annual Per SF $11.62

Property Facts

Price $2,535,000
Price Per Unit $422,500
Sale Type Investment
Cap Rate 4.26%
Gross Rent Multiplier 13.99
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class B
Lot Size 0.33 AC
Building Size 9,289 SF
No. Stories 2
Year Built 2011

Unit Amenities

  • Balcony

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+2 6 $2,550 1,548
Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (71)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
6013-027-001
Land Assessment
$1,178,281 (2024)
Improvements Assessment
$518,442 (2024)
Total Assessment
$1,696,723 (2024)
Annual Taxes
$29,769 ($3.20/SF)
Tax Year
2019

zoning

Zoning Code LAC2
LAC2
  • Listing ID: 21222652

  • Date on Market: 10/14/2020

  • Last Updated:

  • Address: 445 W 70th St, Los Angeles, CA 90003

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}