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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.

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
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 - -
Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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)
  • Listing ID: 33925118

  • Date on Market: 11/19/2024

  • Last Updated:

  • Address: 707 W 70th St, Los Angeles, CA 90044

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