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$ 4,500,000
Est. payment /mo
New
Address not disclosed Los Angeles, CA 90047
52 Beds
26 Baths
16,928 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 16,928 sqft
Price per Sqft $265
MLS Listing ID 26999409
Bedrooms 52
HOA Y/N No
Year Built 1950
Lot Size 0.898 Acres
Property Description
We are excited to present the Van Ness-Century Complex. Located at 2111-2155 West Century and 9920-24 S Van Ness this residential compound consists of 26 - 2 Bedroom units on almost an acre of land. Units are comprised of 3(2+1) units and a billboard at the Van Ness address. The Century address consists of 23 (2+1) units. The apartments were built in 1950, contain 16,928 square feet and are made of wood-frame stucco construction. They are located on a large corner lot of 39,111 square feet, which is zoned LAC2-1. The scheduled gross income on the property is $480,477 and the estimated Net Operating Income is $310,800. Based on the attractive price of $4,500,000, the GRM is 9.3 and the CAP rate is 6.9. At that price, the Cost Per Unit is $173,077. Market rent would generate an income of $660,000, providing a 10.9% CAP Rate and a GRM of 6.68. So, long term, this investment will provide a tremendous return. With 35% down, the investment would produce a cash-on-cash return of 5.65%, day 1.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LAC2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Uncovered
View Y/N No
View None
Building
Story 1
Entry Level One
Sewer Other
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6057020032
Special Listing Condition Standard
Listed by Jerome McAlpin McAlpin & Company #00939725