Current 7.3% Cap Rate w upside to 11% 151 S Mountain View Ave 10 Unit Apartment Building $3,135,792 CAD ($313,579 CAD/Unit) 7.30% Cap Rate Los Angeles, CA 90057
INVESTMENT HIGHLIGHTS
- RTI plans to add 2 Attached ADUs in the garages
- 2 New upcoming vacancies that can be renovated and leased for a significant increase in rental income
- Priced at only $220k per door and $336 per square foot, making it a great investment opportunity
- 6 fully renovated units with permits, providing immediate income and higher rents
- Prime location with strong rental demand, making it a desirable investment opportunity
- Current Cap Rate of 7.3% and GRM of 10, with potential for even greater returns on proforma
EXECUTIVE SUMMARY
Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Value-Add 10-unit building with 6 Fully renovated units priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
PROPERTY FACTS
| Price | $3,135,792 CAD |
| Price Per Unit | $313,579 CAD |
| Sale Type | Investment |
| Cap Rate | 7.30% |
| Gross Rent Multiplier | 10 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 6,536 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2023 |
| Parking Ratio | 1.22/1,000 SF |
| Cross Streets | S Beverly Blvd |
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
1 of 1
Walk Score®
Walker's Paradise (90)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 5154-006-009 | Improvements Assessment | $344,198 CAD |
| Land Assessment | $1,646,163 CAD | Total Assessment | $1,990,360 CAD |
ZONING
| Zoning Code | lac2 |
