1508 W Florence Ave - Apartments FOR SALE


Los Angeles, CA 90047- South Central LA
$1,775,000 USD
310-525-3711
1508 W Florence Ave, Los Angeles, CA for Sale
$1,775,000 USD
Apartments - FOR SALE
1/8
null | 7.16% Cap Rate

1508 W Florence Ave
Los Angeles, CA 90047
South Central LA


HIGHLIGHTS

  • Well-balanced unit mix of two 1-bedroom/1-bath units, two 2-bedroom/1-bath units, and two 3-bedroom/1-bath units, appealing to a broad renter base.
  • Five out of the six units have been renovated, providing a turnkey investment profile and minimizing near-term capital expenditure requirements.
  • Recent upgrades include newer exterior paint, updated lighting, and new building and unit identification, and security cameras enhancing curb appeal.
  • Ample gated & secure on-site parking surface parking spaces, a valuable amenity in a dense Los Angeles submarket that supports tenant retention.
  • Each unit is separately metered for gas and electricity, allowing for efficient utility management and improved operating expense control.
  • The property benefits from proximity to major employment centers and transportation corridors.

OVERVIEW

BRC Advisor is offer for an investment opportunity at 1508 W. Florence Avenue, a well-maintained six-unit multifamily investment property constructed in 1990. Importantly, the property is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) due to its year of construction; however, it is subject to California’s AB 1482 (Tenant Protection Act), providing investors with a more favorable regulatory framework than older, fully rent-controlled assets. The asset features a diverse and desirable unit mix consisting of two (2) one-bedroom/one-bath units, two (2) two-bedroom/one-bath units, and two (2) three-bedroom/one-bath units, totaling approximately 4,940 rentable square feet on a 5,902-square-foot lot. This balanced mix attracts a broad tenant base and helps mitigate vacancy risk. The property offers ample on-site gated parking and a secured gated entry, amenities that are increasingly important to tenants and supportive of strong occupancy. The central Florence Avenue location provides convenient access to major transportation corridors, employment centers, and neighborhood retail, with proximity to Inglewood, Downtown Los Angeles, and LAX. 1508 W. Florence Avenue represents a durable, income-oriented investment offering regulatory flexibility, tenant appeal, and long-term appreciation potential in a core Los Angeles rental corridor. Durability, tenant appeal, and long-term upside in a core Los Angeles rental corridor. Offering Memorandum provided in LoopNet Listing. 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. Sellers are licensed real estate broker in the state of California.

FOR SALE DETAILS

PRICE

$1,775,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

6

PRICE/UNIT

$295,833

CAP RATE

7.16%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1990 CONSTRUCTION - 7.16% CURRENT CAP RATE

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

C2-1, Los Angeles

APN/PARCEL ID

6018-006-008

ASK ABOUT THIS PROPERTY

Sam GrayeliBRC Advisors - BH, Inc.More Info
310-525-3711

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Sam GrayeliBRC Advisors - BH, Inc.More Info
310-525-3711

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