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Est. payment | /mo
31,476 SqFt
$ 7,500,000
Est. payment | /mo
31,476 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 31,476 sqft
Price per Sqft $238
MLS Listing ID CL26651827
HOA Y/N No
Year Built 1990
Lot Size 0.336 Acres
Acres 0.34
Property Sub-Type Other
Property Description
Grand View Villa Apartments is a 36-unit value-add powerhouse exempt from LA City Rent Control and subject only to AB 1482. Built in 1990, this 31,476 SF asset offers an immediate 6.16% CAP and 8.12 GRM, with a clear proforma path to an 8.5%+ CAP and 6.70 GRM. Features a desirable mix of (3) 3BR/2BA, (9) 2BR/1BA, and (24) 1BR/1BA units and it is priced approximately at 208K per unit. This building includes 64 gated parking spaces with only 25 currently assigned, offering a massive immediate revenue stream via unbundled parking. Building also features controlled access entry, elevator, central A/C, and landlord-owned laundry facility on site. High-density "workforce housing" location ensures consistent 100% occupancy demand in this location. Situated in the heart of Westlake/MacArthur Park neighborhood in a Designated Opportunity Zone, only minutes from DTLA, Koreatown, and the 101/110/10 freeways. A walk-score paradise (94) near MacArthur Park and major employment hubs. *** Property being sold by court-appointed receiver and may be subject to court confirmation and overbid hearing. Property is being sold AS-IS. **
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Other
Cooling Central Air
Flooring Laminate, Carpet
Fireplace No
Appliance Dryer
Laundry Common Area, Dryer, Washer, Other
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View City Lights
Building
Sewer Other
Water Other
New Construction No
Others
Tax ID 5141022026
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Listed by Eric Sackler • Coldwell Banker Realty
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AnnMarie Barajas
Partner | Lic# DRE# 01898810