Part of 34 unit portfolio on same block! 6821 11th Ave
8 Unit Apartment Building $1,695,000 ($211,875/Unit) 6.89% Cap Rate Los Angeles, CA 90043
INVESTMENT HIGHLIGHTS
- Newly renovated, freestanding, 4 bed/2 bath detached home behind the 7 unit building
- Very steady
- Only minutes to SoFi, The Forum and Intuit Dome
- Very clean
- Well-managed and "easy" to run
- Build an ADU (or two) & maximize cashflow
EXECUTIVE SUMMARY
8 units 'across the street' - also attractive and well run, like its big brother. 7 unit in the front building and then a freestanding 3 Bed bungalow-style unit in back. LARGE, 8,500 sq. ft. lot means you can add an ADU, maybe two (BTV) in the spacious parking area between the main building and the bungalow-style unit in the rear. Attractive front lawn and gated-access entry.
6.9% CAP DAY ONE
9% CAP PROFORMA
BALANCED UNIT MIX
ADD AN ADU (OR TWO)
EXCLUSIVELY LISTED AT $1,695,000
PRICE RECENTLY REDUCED
SOLD ALONG WITH 26 UNITS AT 6812 11TH ACROSS THE STREET - BUILDNGS CAN BE SOLD SEPARATELY.
6.9% CAP DAY ONE
9% CAP PROFORMA
BALANCED UNIT MIX
ADD AN ADU (OR TWO)
EXCLUSIVELY LISTED AT $1,695,000
PRICE RECENTLY REDUCED
SOLD ALONG WITH 26 UNITS AT 6812 11TH ACROSS THE STREET - BUILDNGS CAN BE SOLD SEPARATELY.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$179,231
|
$32.12
|
| Other Income |
$1,872
|
$0.34
|
| Vacancy Loss |
$5,433
|
$0.97
|
| Effective Gross Income |
$175,670
|
$31.48
|
| Taxes |
$20,323
|
$3.64
|
| Operating Expenses |
$38,513
|
$6.90
|
| Total Expenses |
$58,836
|
$10.54
|
| Net Operating Income |
$116,834
|
$20.94
|
PROPERTY FACTS
| Price | $1,695,000 |
| Price Per Unit | $211,875 |
| Sale Type | Investment |
| Cap Rate | 6.89% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 9.46 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,580 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.43/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Tile Floors
- Hardwood Floors
SITE AMENITIES
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 3 | - | - |
| 3+2 | 1 | - | - |
1 of 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 4006-025-023 | Total Assessment | $1,143,172 |
| Land Assessment | $696,348 | Annual Taxes | $20,323 ($3.64/SF) |
| Improvements Assessment | $446,824 | Tax Year | 2024 |
ZONING
| Zoning Code | R3-1, Los Angeles (R3) |
