1059 S Harvard Blvd - Apartments FOR SALE


Los Angeles, CA 90006- Harvard Heights
$1,550,000 USD
949-306-1175
1059 S Harvard Blvd, Los Angeles, CA for Sale
$1,550,000 USD
Apartments - FOR SALE
1/10
null | 6.96% Cap Rate

1059 S Harvard Blvd
Los Angeles, CA 90006
Harvard Heights


HIGHLIGHTS

  • Balanced unit mix of 5 one-bedroom, one-bathroom units, 1 one-bedroom with den, one-bathroom unit, and 2 two-bedroom with den, one-bathroom unit
  • Separately metered for gas and electricity, allowing for efficient utility management and improved operating expense control.
  • On-site parking, a valuable amenity in a dense Los Angeles submarket that supports tenant retention.
  • Strong rental demand market, supported by a dense residential population and long-term housing fundamental.

OVERVIEW

We are pleased to offer 1059 S. Harvard Boulevard, a fully occupied eight-unit multifamily investment property located in Los Angeles, California 90006. The property offers an attractive and diversified unit mix consisting of five one-bedroom, one-bathroom units, one one-bedroom with den, one-bathroom unit, and two two-bedroom with den, one-bathroom units. The improvements total approximately 5,026 rentable square feet and are situated on an approximately 5,921-square-foot lot. The property also provides on-site parking for some residents. Offered at $1,550,000, the property represents a stable, income-producing investment opportunity with an attractive 9.43 gross rent multiplier and a 6.96% capitalization rate. The property is currently fully occupied, providing an investor with immediate and consistent rental income from the date of acquisition. Recent capital improvements include a new steel stair case and four of the eight units being renovated prior to tenant move-in. With its strong current cash flow, favorable unit mix, recent improvements, and full occupancy, 1059 S. Harvard Boulevard offers investors a compelling opportunity to acquire a stabilized multifamily asset at an attractive basis in the Los Angeles market. The subject property is located in the City of Los Angeles. The property is situated south of Olympic Boulevard, North of Pico Boulevard, West of Normandie Avenue and East of Western Avenue. Call/email Griffin White for complete package. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS 2) Interior Inspection/Books & Records Granted with an Accepted Offer. 3) Submit Proof of Funds & Pre-Qualification Letter with Offer. Broker/agent do not guarantee the accuracy of the square footage, lot size, development potential, or any other information concerning the conditions or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify and complete own due diligence to verify accuracy of all information through physical and personal inspections and with appropriate professionals.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$308 USD /SF

# OF UNITS

8

PRICE/UNIT

$193,750

CAP RATE

6.96%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8 Units - 9.43 GRM & 6.96% CAP

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,921 SF

ZONING

LAR4

APN/PARCEL ID

5080-022-028

ASK ABOUT THIS PROPERTY

Griffin WhiteBRC Advisors - BH, Inc.More Info
949-306-1175

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Griffin WhiteBRC Advisors - BH, Inc.More Info
949-306-1175

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.