716 81St StLos Angeles, CA 90044

Property Details for 716 81St St

Year built

1960

Construction

WOOD

Lot size

0.21 AC

Property size (Sq ft)

7,795 SF

Zone code

LAR3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

6032-023-007

APU

6032023007

Description

This 11-unit apartment building at 716 W. 81st St., Los Angeles, CA 90044, presents a compelling value-add opportunity. The property, built in 1960, boasts 7,795 square feet of net rentable space, currently generating a NOI of $128,698, representing a 6.44% cap rate. A pro-forma NOI of $187,714 projects a 9.39% cap rate, highlighting significant upside potential. The asking price is $1,999,000, or $181,727 per unit, and the price per square foot is $256.45. The unit mix includes seven two-bedroom/one-bathroom units and four one-bedroom/one-bathroom units. Conveniently located between Manchester and Florence, Hoover and the 110 freeway, the property features carports in the front and rear. Currently, one unit is vacant, and the manager's unit is without a lease or management agreement, offering immediate flexibility for a new owner. Two additional units could potentially achieve market rents shortly after closing. Scheduled monthly rent is $16,000, while pro-forma rent is projected at $22,000 or more per month. This property is ideal for a first-time investor or an experienced owner looking to expand their portfolio. The property's location in Los Angeles County, with its APN 6032-023-007, offers strong potential for rental income growth. This is a rare opportunity, as the property has not been on the market for several decades.

• CAP approach

  CAP return

  Valuation

  6%

  $2,800,567

  6.5%

  $2,585,139

  7%

  $2,400,486

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,297,561

  Geo Method

  $2,297,561

• Alternative Use

  Use

  Valuation

  Residential

  $2,585,139

  Hospitality

  $2,367,974

  Educational

  $1,970,126

  Medical

  $2,037,882

  Retail

  $3,064,641

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9652

Longitude

-118.286

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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