1719 Miramar St Los Angeles, CA 90026

Property Details for 1719 Miramar St

Year built

1910

Property size

3,540 SF

Property type

Commercial real estate

APN

5153-002-024

Description

This exceptional 4-unit apartment building in Los Angeles, CA presents a compelling investment opportunity. Located at 1719 Miramar St, 90026, this property boasts 3,540 square feet of rentable space situated on a 4,200 square foot lot. The building, constructed in 1910, has undergone significant improvements, including recent termite treatment, a new roof, updated copper plumbing, and a new ABS main line. Each of the four units, a mix of two-bedroom/one-bathroom and three-bedroom/one-bathroom configurations, benefits from individual meters. Ample rear parking is available for residents. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $60,274, yielding a 5.24% cap rate. However, a pro-forma analysis reveals a significant upside potential, projecting a NOI of $78,697 and a 6.84% cap rate based on a 21% rental increase. The asking price is $1,150,000, translating to $325 per square foot and $287,500 per unit. The property is zoned Lar3 and features the APN 5153-002-024. This well-maintained building offers immediate cash flow and substantial long-term growth potential in a desirable Los Angeles location. The combination of recent upgrades, strong current performance, and significant upside potential makes this a truly attractive investment.