916 W 88th St
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916 W 88th St
4 Unit Apartment Building $919,000 ($229,750/Unit) 5.18% Cap Rate Los Angeles, CA 90044
Investment Highlights
- Updated and well maintained 3-unit property with newly built ADU offering strong 4-unit rental income.
- Offered at a 12.59 GRM and 5.3 Cap Rate on current rents with an additional 20% upside.
- Easy access to public transportation including the Metro Blue Line into downtown & south to the Ocean in Long Beach.
- Cash flowing property features spacious one bedroom bungalow units that were remodeled prior to current occupancy.
- Approximately 3 miles from the Downtown Inglewood Entertainment District including SoFi Stadium, Intuit Dome and Hollywood Park Development.
Executive Summary
Updated and well maintained 3-unit property with newly built ADU offering strong 4-unit rental income in the Vermont Vista neighborhood. This cash flowing property features spacious one bedroom bungalow units that were remodeled prior to current occupancy. This is a great investor opportunity offered at a 12.59 GRM and 5.3 Cap Rate on current rents with an additional 20% upside. Easy access to public transportation including the Metro Blue Line into downtown & south to the Ocean in Long Beach. Adjacent to the 110 (Harbor) Fwy & close proximity to local Elementary & Middle schools. Approximately 3 miles from the Downtown Inglewood Entertainment District including SoFi Stadium, Intuit Dome and Hollywood Park Development. 2/10 of a mile to the Algin Sutton Recreation Center with Tennis & Basketball Courts, Baseball, Soccer Fields, Fitness Zones, Play Areas & Swimming Pools. Don't miss out on this fantastic opportunity!
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 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 (Pro forma - 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 | $919,000 | Property Subtype | Apartment |
| Price Per Unit | $229,750 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.18% | Lot Size | 0.12 AC |
| Sale Conditions | 1031 Exchange | Building Size | 1,479 SF |
| Gross Rent Multiplier | 12.59 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2023 |
| Price | $919,000 |
| Price Per Unit | $229,750 |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 12.59 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 1,479 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1923/2023 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Yard
- Family Room
- Vinyl Flooring
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,428 | 528 |
1 of 1
Walk Score ®
Very Walkable (80)
zoning
| Zoning Code | RD3 (Restricted Density Multiple Dwelling) |
| RD3 (Restricted Density Multiple Dwelling) |
-
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916 W 88th St
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