150 W 76th St - Apartments FOR SALE


Los Angeles, CA 90003- Canndu/Avalon Gardens
$850,000 USD
213-943-1897
150 W 76th St, Los Angeles, CA for Sale
$850,000 USD
Apartments - FOR SALE
1/6
null | 9.19% Cap Rate

150 W 76th St
Los Angeles, CA 90003
Canndu/Avalon Gardens


HIGHLIGHTS

  • The property is currently achieving a healthy income stream of more than $8,600 in scheduled rent per month.
  • Operating at a 9.19% scheduled cap rate and an 8.22 GRM, both stronger than the recent comparable sales in the surrounding submarket.
  • The 110 Freeway is half a mile west, putting Downtown LA seven miles north and the 105 three miles south for direct LAX and South Bay access.
  • Four open parking spaces on site.
  • A Walk Score of 73, with the 45 Metro local line and the Vermont/Main DASH both within a quarter mile and the 110 Freeway less than half a mile west.

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 150 West 76th Street, a four-unit apartment community located in the Florence neighborhood of Los Angeles, just west of Main Street between Florence Avenue and Manchester Avenue. Built in 1925, the property comprises 2,257 square feet of improvements across two single-story buildings on a 6,300-square-foot parcel, with a unit mix of two studios and two two-bedroom units and four on-site parking spaces. The property is currently achieving more than $8,600 in scheduled rent per month, and the offering is priced at a 9.19% scheduled cap rate and an 8.22 GRM, both stronger than the recent comparable sales in the surrounding submarket. With a Walk Score of 73, the property sits within a quarter mile of the 45 Metro local line and the Vermont/Main DASH. The 110 Freeway runs about half a mile west, with interchanges at Florence Avenue and Manchester Avenue, placing Downtown Los Angeles about seven miles north and the 105 interchange about three miles south for direct access to LAX and the South Bay. 150 West 76th Street offers investors an opportunity to acquire an asset with strong in-place income in South Los Angeles. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

4

PRICE/UNIT

$212,500

CAP RATE

9.19%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,300 SF

ZONING

LAR2

APN/PARCEL ID

6031-013-002

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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