9228 Western Ave Los Angeles, CA 90047

Property Details for 9228 Western Ave

Year built

1948

Property size

2,993 SF

Property type

Commercial real estate

APN

6055-026-034

Description

This exceptional investment opportunity presents a four-unit apartment building located at 9228 S Western Ave, Los Angeles, CA 90047. The property, built in 1948, boasts 2,993 square feet of rentable space situated on a 6,001 square foot lot. The unit mix includes three two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit, all currently fully occupied under the Los Angeles Rent Stabilization Ordinance (LARSO), ensuring a stable cash flow. Each unit features separately metered utilities, minimizing operational costs for the owner. Secure rear parking, including a private garage, adds significant value for tenants. The property is zoned LAC2, offering flexibility for future mixed-use development. This prime location, near Manchester Ave and various South Los Angeles amenities, benefits from a revitalizing neighborhood with increasing demand and property appreciation. The asking price is $700,000, representing a price per unit of $175,000 and a current cap rate of 6.50%, with a pro-forma cap rate of 15.49%. This presents a compelling investment opportunity for those seeking immediate income and long-term growth potential in a thriving South Los Angeles market. The property's solid construction, desirable unit mix, and strategic location combine to create a strong value proposition for discerning investors. The property's APN is 6055-026-034.