70th Street | 707 W 70th St
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70th Street 707 W 70th St
4 Unit Apartment Building $849,000 ($212,250/Unit) 6.92% Cap Rate Los Angeles, CA 90044
Investment Highlights
- UNIT MIX: FOUR 1+1 UNITS
- TWO UNITS HAVE BEEN RECENTLY RENOVATED
- LARGE PARKING AREA WITH ADU POTENTIAL
- BUNGALOW STYLE UNITS
- NEW EXTERIOR PAINT
- SEPERATELY METERED FOR GAS & ELECTRICITY
Executive Summary
The unit mix consists of four 1+1 units. The investment consists of approximately 1,632 of rentable square feet and is situated on two parcels of approximately 5,409 square feet. Recent property upgrades include new exterior paint and two of the units have recently been renovated. The building amenities include a large parking area with four total spaces with ADU potential (buyer to verify), a secured gated entry, and the property is separately metered for gas and electricity. The property is subject to City of Los Angeles Rent Stabilization Ordinance and the property is in compliance with the Los Angeles Soft-Story Retrofit Program.
Call/email Griffin White for complete package. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS 2) Interior Inspection/Books & Records Granted with an Accepted Offer. 3) Submit Proof of Funds & Pre-Qualification Letter with Offer. Broker/agent do not guarantee the accuracy of the square footage, lot size, development potential, or any other information concerning the conditions or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify and complete own due diligence to verify accuracy of all information through physical and personal inspections and with appropriate professionals. Sellers are licensed real estate brokers in the state of California.
Call/email Griffin White for complete package. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS 2) Interior Inspection/Books & Records Granted with an Accepted Offer. 3) Submit Proof of Funds & Pre-Qualification Letter with Offer. Broker/agent do not guarantee the accuracy of the square footage, lot size, development potential, or any other information concerning the conditions or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify and complete own due diligence to verify accuracy of all information through physical and personal inspections and with appropriate professionals. Sellers are licensed real estate brokers in the state of California.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2024) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $849,000 | Apartment Style | Low Rise |
Price Per Unit | $212,250 | Building Class | C |
Sale Type | Investment | Lot Size | 0.12 AC |
Cap Rate | 6.92% | Building Size | 1,632 SF |
Gross Rent Multiplier | 10.81 | No. Stories | 1 |
No. Units | 4 | Year Built | 1923 |
Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
Property Subtype | Apartment |
Price | $849,000 |
Price Per Unit | $212,250 |
Sale Type | Investment |
Cap Rate | 6.92% |
Gross Rent Multiplier | 10.81 |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.12 AC |
Building Size | 1,632 SF |
No. Stories | 1 |
Year Built | 1923 |
Parking Ratio | 1.5/1,000 SF |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 4 | - | - |
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Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
Parcel Number | 6013-021-009 | Improvements Assessment | $171,914 |
Land Assessment | $401,136 | Total Assessment | $573,050 |
PROPERTY TAXES
Parcel Number
6013-021-009
Land Assessment
$401,136
Improvements Assessment
$171,914
Total Assessment
$573,050
zoning
Zoning Code | LAR2 (primarily intended for residential development) |
LAR2 (primarily intended for residential development) |
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70th Street | 707 W 70th St
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