1776 Rimpau Blvd Los Angeles, CA 90019
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38-unit value-add opportunity in Los Angeles
Property size:
30,489 SFProperty Features for 1776 Rimpau Blvd
General Information
- Property type
- Multifamily properties
- Square Feet
- 30,489 SF
Building Details
- Year Built
- 1962
- Buildings
- 1
- Stories
- 2
- Units
- 38
Listing Agent: Sean Rosenzweig
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This 38-unit apartment building, located at 1776 S Rimpau Blvd, Los Angeles, CA 90019, presents a compelling value-add investment opportunity. The property, built in 1962, comprises 30,489 square feet on a 37,528 square foot lot and features 32 one-bedroom, five two-bedroom, and one three-bedroom unit. With a current NOI of $376,373 and a pro-forma NOI of $664,742, the property offers a 4.43% cap rate and a pro-forma cap rate of 7.82%. The asking price is $8,500,000, translating to $278.79 per square foot and $223,684.21 per unit. The building benefits from a desirable 1.18:1 parking ratio and on-site laundry facilities. A soft-story parking retrofit has already been completed. The property's location in the Mid-City neighborhood provides convenient access to shopping, restaurants, museums, and entertainment options in Mid-City, Miracle Mile, West Adams, and Koreatown. The potential for adding Accessory Dwelling Units (ADUs) further enhances the long-term growth potential. This is a rare opportunity to acquire a significant presence in a sought-after Los Angeles submarket poised for rent growth. The property is zoned LARD1.5.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
CBD Oil Cannabis ...
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.34178073972
- Latitude
- 34.043304555956
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 38-unit value-add opportunity in Los Angeles
Where is this multifamily property located?
The property is located at 1776 Rimpau Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 38-unit apartment building in desirable Mid-City Los Angeles, offering a value-add opportunity.; $8.5M asking price, representing a $278.79/SF and $223,684.21 per unit cost. Current NOI of $376,373, pro-forma NOI of $664,742, resulting in a 4.43% cap rate and a pro-forma cap rate of 7.82%.; Completed soft-story parking retrofit, saving buyer significant capital and time. 1.18:1 parking ratio and on-site laundry.
