10965 Rochester Ave
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10965 Rochester Ave
18 Unit Apartment Building $9,915,202 CAD ($550,845 CAD/Unit) 4% Cap Rate Los Angeles, CA 90024
Investment Highlights
- Prime Westwood loction just south of Wilshire Blvd
- Property with elevator, underground parking, formal lobby, trash chute on each floor, laundry room
- Priced at only $388,611/unit, $508/S.F, 4% CAP and 15 x current low rents
- Rarely traded trophy asset. First time on market in over 40 years
- No soft-story retrofit required
- Priced at 5.6% CAP and 11.9 GRM at market rents
Executive Summary
Prime Westwood rarely traded 18-unit trophy apartment building offered for sale for the 1st time in over 40 years. Property is located 3 blocks south of Wilshire Blvd and just west of Westwood Blvd. Well maintained asset with 13 out of 18 units renovated and 4 units to be delivered vacant at closing. Good unit mix of 15 spacious 1 bedroom units and 3 studios. Property features underground gated parking with 18 spots, elevator, formal lobby, controlled intercom access, trash chute on each floor and a laundry room with machines owned by the Seller. Priced at only $388,611/unit, $508/S.F., 4% CAP and 15.08 GRM with current rents. Priced at 11.9 GRM and 5.6% CAP with rents at market (buyer to confirm).
Property Facts In Escrow
| Price | $9,915,202 CAD | Apartment Style | Low Rise |
| Price Per Unit | $550,845 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4% | Building Size | 13,755 SF |
| Gross Rent Multiplier | 15.08 | No. Stories | 3 |
| No. Units | 18 | Year Built | 1971 |
| Property Type | Multifamily | Parking Ratio | 1.31/1,000 SF |
| Property Subtype | Apartment |
| Price | $9,915,202 CAD |
| Price Per Unit | $550,845 CAD |
| Sale Type | Investment |
| Cap Rate | 4% |
| Gross Rent Multiplier | 15.08 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 13,755 SF |
| No. Stories | 3 |
| Year Built | 1971 |
| Parking Ratio | 1.31/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Oven
- Tub/Shower
- Pantry
Site Amenities
- Controlled Access
- Laundry Facilities
- Gated
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | $3,079 CAD | - |
| Studios | 3 | $2,737 CAD | - |
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Walk Score ®
Very Walkable (78)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 4324-006-016 | Improvements Assessment | $1,473,531 CAD |
| Land Assessment | $1,205,607 CAD | Total Assessment | $2,679,138 CAD |
PROPERTY TAXES
Parcel Number
4324-006-016
Land Assessment
$1,205,607 CAD
Improvements Assessment
$1,473,531 CAD
Total Assessment
$2,679,138 CAD
zoning
| Zoning Code | LAR4 ((Q)R4-1L) |
| LAR4 ((Q)R4-1L) |
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10965 Rochester Ave
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