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3104996249
Real Estate Company
Los Angeles, CA 90047
- $4,500,000
- 52
- BD
- 26
- BA
- 16,928
- SqFt
Listing courtesy of Listing Agent: Jerome McAlpin (jerome@mcalpinco.com) from Listing Office: McAlpin & Company.
- List Price
- $4,500,000
- Status
- ACTIVE
- Days on Market
- 1
- MLS#
- 26999409
- Subtype
- Residential Income
- Style
- Bungalow
- Year Built
- 1950
- Bedrooms
- 52
- Bathrooms
- 26
- Living Area
- 16,928
- Lot Size
- 39,111
- Acres
- 0.90
- MLS Area Major
- Metropolitan Southwest (C36)
Property Description
We are excited to present the Van Ness-Century Complex. Located at 2111-2155 West Century and 9920-24 S Van Ness this residential compound consists of 26 - 2 Bedroom units on almost an acre of land. Units are comprised of 3(2+1) units and a billboard at the Van Ness address. The Century address consists of 23 (2+1) units. The apartments were built in 1950, contain 16,928 square feet and are made of wood-frame stucco construction. They are located on a large corner lot of 39,111 square feet, which is zoned LAC2-1. The scheduled gross income on the property is $480,477 and the estimated Net Operating Income is $310,800. Based on the attractive price of $4,500,000, the GRM is 9.3 and the CAP rate is 6.9. At that price, the Cost Per Unit is $173,077. Market rent would generate an income of $660,000, providing a 10.9% CAP Rate and a GRM of 6.68. So, long term, this investment will provide a tremendous return. With 35% down, the investment would produce a cash-on-cash return of 5.65%, day 1.
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Additional Information
- Property Description
- Bungalow
- Zoning
- LAC2
- Heating
- Wall Furnace
- Stories
- One Level
- Levels
- One
- Parking Features
- Uncovered
- View
- None
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.