1377 W 112th, Los Angeles, CA 90044

Property Description

Ten apartments in a garden-style building totalling 6,258 SF on a 9,442 SF, with 10 assigned parking spaces. The unit mix is eight 1 bed/1 bath units, one 2 bed/1 bath unit and one spacious 2 bed/2 bath unit. Built in 1960, the property has been well maintained, upgraded and without major deferred maintenance. Most units have been thoroughly remodelled, and a new roof takes care of a big capex item. Aggressively priced at an 8.49% CAP rate and 8.47 GRM on scheduled rents, with a 9.32% pro forma CAP. Nine of ten units are occupied. The vacant and remodelled 2 bed/2 bath gives a buyer the option to move in or lease it at market rent, and in-place rents leave room to grow as units turn over. The property is in Westmont, in unincorporated Los Angeles County. It is outside the City of Los Angeles Rent Stabilization Ordinance and Systematic Code Enforcement Program, and is not served by LADWP. About half a mile from the Metro C Line Vermont/Athens station and minutes from Imperial Highway and the 105 and 110 freeways, with easy access to Downtown LA, LAX and the South Bay.