613 S Dunsmuir Ave
8 Unit Apartment Building $2,295,000 ($286,875/Unit) 4.19% Cap Rate Los Angeles, CA 90036
INVESTMENT HIGHLIGHTS
- Located in Prime Miracle Mile area
- Over 50% upside on current rents
EXECUTIVE SUMMARY
Great Opportunity to acquire an 8 unit Multi-Family building in the Miracle Mile area of Los Angles. Comprised of Large Aprox 800 sq ft Units with a lot of the original architectural characteristics of the 1930s, including tile, Moldings and flooring. Each unit is separately metered for gas and electric. 8 covered garage spots in the back parking lot. Aprox 50% upside potential from current rents. 5 out of the 8 units are due for immediate Increases. First time on the market in 20 years. Priced to Sell. No showings without accepted offer.
PROPERTY FACTS
| Price | $2,295,000 |
| Price Per Unit | $286,875 |
| Sale Type | Investment |
| Cap Rate | 4.19% |
| Gross Rent Multiplier | 14.3 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 7,681 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1939 |
| Parking Ratio | 1/1,000 SF |
UNIT AMENITIES
- Heating
- Kitchen
- Oven
- Tub/Shower
- Pantry
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 of 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 5508-011-011 | Improvements Assessment | $795,196 |
| Land Assessment | $749,952 | Total Assessment | $1,545,148 |
ZONING
| Zoning Code | R4, Los Angeles |
CONTACT
-
Josh Tomaszewski - JRM Properties
