Harbor City Multifamily

25524 South Western Avenue, Los Angeles, CA

$3,200,000

Price

3.21%

Cap Rate

5.1%

Pro Forma Cap Rate

Overview
Cap Rate
3.21%
Pro Forma Cap Rate
5.1%
Building Size
9,990 sqft
Lot Area
13,346 sqft
Occupancy
100%
Units
16
GRM
15.54
Average Room Size
625 sqft
Year Built
1975
Price Per Sqft
$320.32
Price Per Unit
$200,000
Floors
2
Parking Spots
18
Investment Strategy
Value Add
Description

Casa Mia Apartments is a 9,990-square foot, 16-unit apartment complex located at 25524 S Western Avenue in the Harbor City neighborhood of Los Angeles. The subject property sits on a 13,346-square foot corner lot with over 130 feet of frontage on Western Avenue. The building exterior features Spanish tile mansard Spanish Lace stucco and an arched entry way. With a desirable location and low rents, historical vacancy rates are low. The apartments flank a spacious courtyard for tenant enjoyment. The property includes a laundry room with machines owned by the building. There is controlled access entry to the building and gated parking for added security to the residents. Parking is currently configured for 18 cars in a gated parking lot on the north side of the property. The building is master metered for gas, electric and water.

Highlights
  • First Time on the Market
  • Substantial Upside in Rents
  • Prime Harbor City Location

Location
Gallery