825 108Th St Los Angeles, CA 90059
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High-Cap Rate Apartment Building, 22 Units
Property size:
13,742 SFProperty Features for 825 108Th St
General Information
- Property type
- Multifamily properties
- Square Feet
- 13,742 SF
- Class
- B
Building Details
- Year Built
- 1951
- Buildings
- 3
- Units
- 22
Listing Agent: Hooman Emanuel
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This Los Angeles multifamily investment property presents a compelling value-add opportunity. The 22-unit apartment building, constructed in 1951, boasts 13,742 square feet across three separate parcels, offering potential for individual sales. Currently operating at a 6.47% cap rate with a net operating income (NOI) of $277,814, the property shows significant upside potential. A pro-forma analysis projects a 9.63% cap rate and a NOI of $413,584. The property's current occupancy rate stands at 95%. Over half of the units have undergone renovations within the last three years. Priced at $4,295,000 ($195,227.27 per unit and $312.55 per square foot), this Class B building is conveniently located near the Avalon Metro Station, providing excellent access to public transportation. The property's current gross rent multiplier (GRM) is 10.76X, while the pro-forma GRM is 7.93X. This presents a rare chance to acquire a well-positioned asset with substantial room for increased profitability.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.2597546
- Latitude
- 33.9385663
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FAQs
What type of property is this?
Multifamily property - High-Cap Rate Apartment Building, 22 Units
Where is this multifamily property located?
The property is located at 825 108Th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,295,000.
What are key features of this property?
This property features: Exceptional value-add opportunity with a current GRM of 10.76 and a 6.47% cap rate.; Pro forma analysis projects a GRM of 7.93 and a 9.63% cap rate.; Three separate parcels offer flexibility and potential for individual sales.
