3815 Don Tomaso Dr | 6-Unit Baldwin Hills Value-Add Apartments with City Views

Description:

3815 Don Tomaso Dr is a six-unit value-add multifamily investment in Baldwin Hills, built in 1954 on a 10,866 SF hillside lot with views toward Downtown LA (4,556 SF of building area, LARD1.5 zoning). The building offers a diverse unit mix in a single building: four 1-bed/1-bath units, one 2-bed/2-bath unit and one 3-bed/3-bath ADU. The property is fully occupied, and in-place rents sit roughly 47% below market, offering a clear path to increased income through turnover.

OFFERING
- Price: $1,300,000 ($216,667 per unit, $285 per SF)
- Cap rate: 6.04% and 10.35 GRM
- Capturing market rents through natural turnover lifts NOI from $78,553 to $129,231 and the cap rate to 9.94%

HIGHLIGHTS
- Value-add upside: in-place rents roughly 47% below market, a loss to lease of about $4,904 per month
- Fully occupied: stable in-place income while a new owner works toward market rents
- Views and privacy: the building rises above the street on a hillside lot with views to Downtown LA
- Outdoor space: top-floor units have large private patios off the master bedrooms, and a second-level courtyard could be improved into a tenant gathering space
- Low operating burden: all units are separately metered for electricity and gas with their own water heaters, and tenants pay their own trash
- Added income potential: the laundry room is not currently used by tenants
- Central Baldwin Hills location near Crenshaw Boulevard retail and dining, the Metro K Line, and Kenneth Hahn State Recreation Area

Listed by Josh Kaplan (310.405.1890, DRE 01934177) and Troy Lucero (310.339.5477, DRE 02015705), Highlight Multifamily Group at Equity Union Commercial. Full details and offering memorandum request: highlightreg.com/listings/3815-don-tomaso-dr-los-angeles-ca-90008/