This Multifamily Property is no longer advertised on LoopNet.com.

6024 Monterey Rd
Los Angeles, CA 90042

$680K Reduction on 14 Units Built In 1995 · Multifamily Property For Sale · 14 Units

INVESTMENT HIGHLIGHTS

  • Located 0.6 miles from Figueroa Blvd, which is home to a eclectic retailers, charming cafes, art galleries, and beloved dining options
  • Ample side-by-side covered and uncovered parking spaces with the potential to add two or more ADUs (buyer to verify)
  • Approx. 30% rental upside, and at the listed price, stabilizes at a 7.01% CAP and 10.17 GRM with projected market rents
  • Built-in 1995, the property currently allows for an 8.8% annual rent increase
  • Featuring (4) 2-bdrm. units and (10) 1-bdrm. units offered at $263,929 per unit and $417 per foot
  • Renovated units include new windows, wood-laminate flooring, granite countertops, and updated appliances and cabinetry

PROPERTY FACTS

No. Units 14
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.27 AC
Building Size 8,854 SF
Average Occupancy 93%
No. Stories 2
Year Built 1995
Parking Ratio 2.48/1,000 SF

UNIT AMENITIES

  • Air Conditioning
  • Granite Countertops
  • Vinyl Flooring

SITE AMENITIES

  • Controlled Access
  • Laundry Facilities
  • Gated

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
2+2 2 $1,950 -
2+1 2 $1,853 -
1+1 10 $1,600 -

PROPERTY TAXES

ZONING

Zoning Code RD1.5
  • Listing ID: 29888669

  • Date on Market: 10/26/2023

  • Last Updated:

  • Address: 6024 Monterey Rd, Los Angeles, CA 90042