1114 67Th St Los Angeles, CA 90001

Property Details for 1114 67Th St

Year built

1924

Construction

WOOD

Lot size

0.13 lot acres

Property size

3,240 SF

Zone code

LCR3*

Property type

Apartment buildings

APN

6010-007-006

APU

6010007006

Description

This exceptional investment opportunity presents a 10-unit apartment building located at 1114 E 67th St, Los Angeles, CA 90001. Built in 1924 and extensively renovated in 2018, this single-story, garden-style complex boasts a total of 5,400 square feet. The property consists entirely of studio apartments, each averaging 305 square feet, currently operating at 100% occupancy. The asking price is $2,500,000, representing a price per unit of $250,000 and a price per square foot of $462.96. The property generates a substantial net operating income (NOI) of $124,527, yielding a compelling 4.98% cap rate. Tenants are subject to income restrictions outlined in a Master Rent Subsidy Agreement, facilitated through the Flexible Housing Subsidy Pool (FHSP) program, a partnership between WiGro LLC, Brilliant Corners, the County of Los Angeles, and the Department of Health Services. This agreement ensures a stable tenant base and consistent income stream. This well-maintained property offers a strong return on investment with significant potential for future growth in the desirable Los Angeles market. The property's location in Los Angeles County provides easy access to various amenities and transportation options. This is a rare opportunity to acquire a stable, income-producing multifamily asset in a prime location.