4313 Main StLos Angeles, CA 90037

Property Details for 4313 Main St

Year built

1962

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

5,927 SF

Zone code

LAC2

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5111-012-003

APU

5111012003

Description

This exceptional 10-unit apartment building in Los Angeles, CA presents a compelling value-add opportunity. Situated on a 6,501 sq ft lot at 4313 Main St, 90037, this two-story, 6,757 sq ft building, constructed in 1962, boasts a C2 zoning designation. Currently featuring eight units and two permitted Accessory Dwelling Units (ADUs) ready for construction, the property offers significant upside potential. Five units are currently vacant and have been recently updated and are rent-ready, featuring high-quality appliances and finishes. A recent successful conversion of a one-bedroom unit into a two-bedroom unit serves as a proof of concept for further renovations and increased rental income. The existing laundry room has also been renovated. Plans for the two additional ADUs are ready for immediate issuance, allowing for a quick expansion of the property's rental capacity. The asking price is $1,875,000, representing $187,500 per unit and $277.49 per square foot. The current cap rate stands at 6.90%, with a projected market cap rate of 8.78% based on conservative rent estimates. Adding the two ADUs increases the projected cap rate to 8.26%, reaching 10.00% with conservative rents. The property's location near major public transportation and attractions further enhances its appeal. This property offers a strong cash flow with significant potential for long-term growth and return on investment. The seller may consider allowing a buyer to lease up during escrow.

• CAP approach

  CAP return

  Valuation

  6%

  $2,129,437

  6.5%

  $1,965,634

  7%

  $1,825,232

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,746,971

  Geo Method

  $1,746,971

• Alternative Use

  Use

  Valuation

  Residential

  $1,965,634

  Hospitality

  $1,800,510

  Educational

  $1,498,004

  Medical

  $1,549,522

  Retail

  $2,330,228

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0052

Longitude

-118.274

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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