825 108Th StLos Angeles, CA 90059
- Residential income properties
- 5,962 SF
Property Details for 825 108Th St
- Year built
- 1951
- Construction
- WOOD
- Lot size
- 0.13 AC
- Property size (Sq ft)
- 5,962 SF
- Zone code
- LAM1
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 6051-022-033
- APU
- 6051022033
Description
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.
Valuation
by Realmo methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,142,012
- 6.5%
- $1,977,242
- 7%
- $1,836,010
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,757,288
- Geo Method
- $1,757,288
-
Alternative Use
- Use
- Valuation
- Residential
- $1,977,242
- Hospitality
- $1,811,143
- Educational
- $1,506,850
- Medical
- $1,558,672
- Retail
- $2,343,988
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 33.9386
- Longitude
- -118.26
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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