7 Unit Apartment Building (2 Vacant Units) with Potential to Build 36± Units (by TOC)

501 Loma Drive, Los Angeles, CA

$1,750,000

Price

3.05%

Cap Rate

5.24%

Pro Forma Cap Rate

Overview
Cap Rate
3.05%
Pro Forma Cap Rate
5.24%
NOI
$53,308
Building Size
5,237 sqft
Lot Area
8,333 sqft
GRM
12.57
Occupancy
71.5%
Units
7
Zoning
R4-1 Tier 3
Floors
2
Parking Spots
7
Parking Ratio
1
Description

Presented for sale is a 7 Unit Apartment Building with tremendous redevelopment upside! Presented with two vacant units, this building features spacious 1+1 units with 7 private garages.

Being on a sloped lot, behind the street-facing garages and across from the Rampart LAPD Station, these homes enjoy the calmer feel while being in the middle of everything.

Just a short walk to Food4Less, Rite Aid, Home Depot, Plan Check Kitchen+Bar, and under a 15 minute walk to the Metro Subway Station, you would be hard-pressed to find a more pedestrian friendly neighborhood. Market GRM at 12.57 and Market CAP at 5.24%

The 60 Foot Wide Lot makes for greater options and density on parking designs.

Highlights
  • Market GRM at 12.57 and Market CAP at 5.24%
  • 8,332 SF of R4-1 Tier 3 Land - 60 Foot Wide Lot!
  • Within half a mile of: Food4Less, Rite Aid, Home Depot, Starbucks, Pacific Dining Car, Plan Check Kitchen
  • Within one mile of: 2 Metro Subway Stations, MacArthur Park, Langer's Deli, FIGat7th, 24 Hour Fitness, LA Central Library
  • Walker's Paradise - Walk Score of 92
  • Upside in Rents!
Documents

Location
Gallery