Phenomenal Cash-Flow Property - South LA | 4313 S Main St
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Phenomenal Cash-Flow Property - South LA 4313 S Main St
10 Unit Apartment Building $2,669,062 CAD ($266,906 CAD/Unit) 6.90% Cap Rate Los Angeles, CA 90037
Investment Highlights
- Five Current Vacancies Delivered Fully Renovated and Rent-Ready
- One 2-Bed Townhouse Unit Completely Renovated and Rent-Ready
- Extremely Clean and Well Maintained Property
- Plans for an Additional 2 ADU Units RTI
- Phenomenal Long-Term Cash-Flow Property
Executive Summary
2ND PRICE REDUCTION. OVER A 7% CAP RATE ON 100% LEASE-UP OF 5 NEWLY RENOVATED UNITS. VERY WELL MAINTAINED ASSET.
Seller has just completed full renovations to all vacant units and laundry room including new kitchens and appliances, bathrooms, flooring, A/C units, and more. This is a perfect opportunity for a buyer to be able to select their own tenants at market rents and enjoy this high cash-flow, turnkey property while also having considerable upside by adding two additional ADU units with RTI plans included, providing an after-cost CAP of over 8%. * Seller may also consider allowing for lease-up during escrow allowing for better financing. Don't miss this one!
Exclusively listed for sale by the multifamily team at NAI, 4313 S Main St presents a phenomenal turn-key opportunity with strong cash flow, and the ability to choose your own tenants and immediately add additional units with permits ready to issue. All 5 vacant units have been updated and are rent-ready with high-quality appliances and finishes, and the laundry room has also been renovated. Additional value remains to be uncovered in continuing renovations and converting additional units from 1 to 2 bedrooms.
The property was originally built as an 8-unit complex and currently enjoys the benefit of 5 recent vacancies, with potential for more. One of the previous 1-bedroom units has been successfully converted into a 2-bedroom, 1-bathroom unit as a proof of proof of concept for future conversions in the building. Plans to add an additional two ADU units in the rear carport are ready to issue and the seller’s contractor is ready to work with a buyer in completing them right away.
Price has just been reduced for an immediate sale and seller will consider allowing a buyer to lease up during escrow as a convenience. Currently, the CAP rate stands at 6.90%, with a market CAP of 8.78% with conservative rents. Current Section 8 rents are higher and would greatly increase cash flow. By adding in the two ADUs, the current CAP increases to 8.26%, with the market CAP reaching 10.00% with conservative rents. This offers a buyer looking for long-term stable cash flow an ideal opportunity with significant upside potential.
Seller has just completed full renovations to all vacant units and laundry room including new kitchens and appliances, bathrooms, flooring, A/C units, and more. This is a perfect opportunity for a buyer to be able to select their own tenants at market rents and enjoy this high cash-flow, turnkey property while also having considerable upside by adding two additional ADU units with RTI plans included, providing an after-cost CAP of over 8%. * Seller may also consider allowing for lease-up during escrow allowing for better financing. Don't miss this one!
Exclusively listed for sale by the multifamily team at NAI, 4313 S Main St presents a phenomenal turn-key opportunity with strong cash flow, and the ability to choose your own tenants and immediately add additional units with permits ready to issue. All 5 vacant units have been updated and are rent-ready with high-quality appliances and finishes, and the laundry room has also been renovated. Additional value remains to be uncovered in continuing renovations and converting additional units from 1 to 2 bedrooms.
The property was originally built as an 8-unit complex and currently enjoys the benefit of 5 recent vacancies, with potential for more. One of the previous 1-bedroom units has been successfully converted into a 2-bedroom, 1-bathroom unit as a proof of proof of concept for future conversions in the building. Plans to add an additional two ADU units in the rear carport are ready to issue and the seller’s contractor is ready to work with a buyer in completing them right away.
Price has just been reduced for an immediate sale and seller will consider allowing a buyer to lease up during escrow as a convenience. Currently, the CAP rate stands at 6.90%, with a market CAP of 8.78% with conservative rents. Current Section 8 rents are higher and would greatly increase cash flow. By adding in the two ADUs, the current CAP increases to 8.26%, with the market CAP reaching 10.00% with conservative rents. This offers a buyer looking for long-term stable cash flow an ideal opportunity with significant upside potential.
Property Facts
| Price | $2,669,062 CAD | Apartment Style | Low Rise |
| Price Per Unit | $266,906 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.90% | Building Size | 6,501 SF |
| Gross Rent Multiplier | 10.08 | Average Occupancy | 30% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,669,062 CAD |
| Price Per Unit | $266,906 CAD |
| Sale Type | Investment |
| Cap Rate | 6.90% |
| Gross Rent Multiplier | 10.08 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,501 SF |
| Average Occupancy | 30% |
| No. Stories | 2 |
| Year Built | 1962 |
| Opportunity Zone |
Yes |
Unit Amenities
- Washer/Dryer Hookup
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 1 |
| 2+1 | 2 | - | 1 |
| Studios | 1 | - | 1 |
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Walk Score ®
Very Walkable (86)
Bike Score ®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 5111-012-003 | Improvements Assessment | $503,982 CAD |
| Land Assessment | $317,466 CAD | Total Assessment | $821,448 CAD |
PROPERTY TAXES
Parcel Number
5111-012-003
Land Assessment
$317,466 CAD
Improvements Assessment
$503,982 CAD
Total Assessment
$821,448 CAD
zoning
| Zoning Code | C2, Los Angeles (Commercial) |
| C2, Los Angeles (Commercial) |
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Phenomenal Cash-Flow Property - South LA | 4313 S Main St
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