1139 68th St, Los Angeles, CA 90001-4209
- Apartment buildings
- 3,096 SF
- 0.11 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1139 68th St
- Year built
- 1927
- Lot size
- 0.11 lot acres
- Zone code
- LCR3*
- Property type
- Apartment buildings
- APN
- 6010-007-022
- APU
- 6010007022
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 22, 2019 | — | Mo Foundation Holdings LLC | Frank Mchugh-odonovan Foun INC | Quit Claim Deed | — |
| Jan 9, 2019 | — | Frank Mchugh-odonovan Foun INC | Odonovan Christine Trust | Quit Claim Deed · related | — |
| Nov 4, 1992 | — | Mchugh Frank Tr | — | Trustees Deed · related | — |
| — | — | Odonovan Trust | — | Deed Of Trust · related | $80k · Individual |
Description
This exceptional 10-unit apartment building, located at 1139 E 68th St, Los Angeles, CA 90001, presents a compelling value-add investment opportunity. The single-story, 3,096 square foot building, constructed in 1927, sits on a 4,997 square foot lot and is zoned LCR3. Currently boasting a 4.84% cap rate and $53,236 NOI, the property offers significant upside potential. The pro-forma cap rate is projected at 10.30%, with a pro-forma NOI of $113,309. The asking price is $1,100,000, or $110,000 per unit. Recent improvements include a new roof, copper plumbing, a new sewer line, and exterior paint. The unit mix consists of ten studio apartments, with two currently vacant, presenting immediate rental income growth opportunities. The property's strategic location near the 110 and 105 freeways, and proximity to public transportation, ensures strong tenant demand within a dense rental market. This property is a rare find in Los Angeles, offering a blend of solid current income and substantial future growth potential. The property's location in Los Angeles County provides access to a large pool of potential renters. This is a fantastic opportunity for an investor seeking a value-add multifamily property in a high-demand area.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.255
- Latitude
- 33.9787
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
