553 Ceres Ave
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553 Ceres Ave
28 Unit Apartment Building $1,950,000 ($69,643/Unit) 7% Cap Rate Los Angeles, CA 90013
Executive Summary
Looking for a 7 cap day one with upside to a 9 cap- look no further. This 28 unit SRO building (SRO means Single Room Occupancy - they are like hotel rooms - no kitchens ) may be the right one for you. Located on the border of Downtowns thriving Arts District ( although it does touch Skid Row ) it is located on Ceres Street , which one only one street west of Central - the dividing line to the Arts District. This could be a cool starving artists rental community. Skid Row is going through some heavy revitalization with multiple developments being erected. $2B project on 5th and Central to name one of a few being worked on. We are on 6th and Central. There is also the $47.5-million Skid Row Connectivity & Safety Project in the works. Some of the rooms share common bathrooms on each floor. Some have private bathrooms. No Kitchens in these rooms.
Property Facts
| Price | $1,950,000 | Apartment Style | Low Rise |
| Price Per Unit | $69,643 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 7% | Building Size | 5,430 SF |
| Gross Rent Multiplier | 7 | Average Occupancy | 100% |
| No. Units | 28 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1903/2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,950,000 |
| Price Per Unit | $69,643 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 7 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 5,430 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1903/2020 |
| Opportunity Zone |
Yes |
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 28 | - | 130 |
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Walk Score ®
Walker's Paradise (91)
Transit Score ®
Excellent Transit (86)
Bike Score ®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 5147-016-019 | Improvements Assessment | $766,384 |
| Land Assessment | $986,041 | Total Assessment | $1,752,425 |
PROPERTY TAXES
Parcel Number
5147-016-019
Land Assessment
$986,041
Improvements Assessment
$766,384
Total Assessment
$1,752,425
zoning
| Zoning Code | M2 |
| M2 |
-
Alex Galuz -
KW Commercial
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553 Ceres Ave
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