Built in 1959, this 8-unit property totals 5,280 SF located in Mid-City's Harvard Heights, between Normandie Ave & S Mariposa Ave, just south of Washington Blvd. The building features a unit mix of exclusively two-bed one-bath apartments. This offering presents an investor the opportunity to acquire a value-add asset with a 37% loss-to-lease and a pro forma CAPrate of 7.99% through renovations when the units turn. The property is being offered at a 14.18 GRM on current income and a low price per unit of $215,625.Furthermore, there are 8 parking spaces for the building secured by a gated entrance. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10 Freeway and transportation options within walking distance.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
