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    1663 W 11TH Pl

    Los Angeles, CA 90015
    • $3,700,000
    • STATUS: Active
    • ON SITE: 208 days
    • ID#: 20-558254
    Price Reduced
    UPDATED: 15 min ago
    $3,700,000
    • 3
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,504
      SQFT
    • $296
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1914
    County:

    School Ratings & Info

    Description

    I am pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 4.96% Cap Rate and 11.93 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining. *The property currently operates as 26 units; however, the original certificate of occupancy indicates there are 25 apartment units while the LA County Assessor's records indicate there are 29 units at the property. Buyer must conduct their own due diligence regarding this matter

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T21:44:01.44. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.lydiagable.com/homes/103589768
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    1663 W 11TH Pl Los Angeles, CA 90015

    • Price: $3,700,000
    • Status: Active
    • Updated: 15 min ago
    • ID#: 20-558254
    3
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    12,504
    SQFT
    $296
    $/SQFT
    1914
    Built
    Neighborhood:
    Downtown L.A.
    County:
    Los Angeles
    Area:
    Downtown L.A.
    Property Description
    I am pleased to present the opportunity to acquire 1663 West 11th Place, a 26-unit apartment community situated less than one mile from Downtown Los Angeles. Originally built in 1914, the subject property features on-site laundry, rooftop solar panels, and is individually metered for electric. Available at an attractive 4.96% Cap Rate and 11.93 GRM on current income and expenses, the property allows an investor to acquire a sizable apartment community in an improving location. 1663 West 11th Place is well positioned to provide immediate and consistent returns for investors. The property offers investors a unique opportunity to acquire immediate scale with excellent in-place returns and rental upside remaining. *The property currently operates as 26 units; however, the original certificate of occupancy indicates there are 25 apartment units while the LA County Assessor's records indicate there are 29 units at the property. Buyer must conduct their own due diligence regarding this matter
    Exterior Features

    Lot Size Area 7415 Other Structures None Parking Garage None Total Parking 0

    Interior Features

    Baths Total 26.00 Cooling Wall Unit(S) Equipment Other Heating Other

    Property Features

    Gross Income 310227 Gross Operating Income 303077 Like Units1 23 Like Units2 3 Net Operating Income 183455.00 Number Of Buildings 1 Number Of Units 26 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Assessor Total Annual Expense 119622 Type Of Units Residential Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Sean Rosenzweig DRE#01406343 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T21:44:01.44. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377