1030 W 93rd Street presents an 8-unit multifamily investment opportunity located at 1030 W 93rd St, Los Angeles, CA 90044. The property consists of approximately 7,665 SF of building area situated on an approximately 9,239 SF lot and was originally built in 1963. The unit mix includes two 1-bedroom/1-bath units, five 2-bedroom/1-bath units, and one 3-bedroom/1-bath unit. There is the potential for 2 additional ADU's.
Based on the provided operating information, the property generates approximately $195,737 in current annual scheduled gross income with current NOI of approximately $117,637. Pro forma scheduled gross income is projected at approximately $229,080 with pro forma NOI of approximately $149,312. At the $1,400,000 list price, the property reflects an 8.4% current cap rate and 10.67% pro forma cap rate, with a current GRM of 7.15 and pro forma GRM of 6.11.
The existing rent roll provides current income with additional potential rental upside based on the provided market-rent assumptions. Current monthly scheduled rent totals approximately $16,683 compared with pro forma monthly scheduled rent of approximately $18,500. Tenants are responsible for gas and electric utilities.
Positioned within an established Los Angeles multifamily neighborhood, the property offers investors an opportunity to acquire an income-producing apartment asset with a combination of in-place cash flow and potential income growth. The surrounding area includes a concentration of small- and mid-sized multifamily properties with recent transaction activity providing relevant investment benchmarks.