4215 Kansas AveLos Angeles, CA 90037

This 2-story, 9,550-square-foot apartment building at 4215 S Kansas Ave, Los Angeles, CA 90037, offers a compelling investment opportunity. Built in 1924, the property comprises 23 studio apartments and one one-bedroom unit, situated on a 6,665 sq ft lot (APN: 5020-021-004). Many units have been upgraded, and all feature separate gas and electric meters. On-site laundry adds convenience. The building benefits from a strong rental location, just half a mile from Expo Park and major attractions including the LA Memorial Coliseum, Lucas Museum, and BMO Stadium. USC and the Metro Expo line are within one mile. The current NOI is $175,626, with a pro-forma NOI of $244,161, representing a 4.81% cap rate and a pro-forma cap rate of 6.69%. The asking price is $3,650,000 ($158,695.65 per unit, $382.20 per square foot). Attractive assumable financing is available with a fixed rate of 3.71% until May 1, 2030, with a remaining balance of $1,268,411.93 (as of October 2024). Current rents offer a significant rental upside potential. The property is zoned LAR3.