151 S Mountain Vw - Apartments FOR SALE


Los Angeles, CA 90057- Westlake North
$2,295,000 USD
310-666-2246
151 S Mountain Vw, Los Angeles, CA for Sale
$2,295,000 USD
Apartments - FOR SALE
1/20
null | 7% Cap Rate

151 S Mountain Vw
Los Angeles, CA 90057
Westlake North


HIGHLIGHTS

  • Amazing 7% Cap Rate from day 1 with upside to 10.8% Proforma Cap Rate
  • 10-unit building with 6 fully renovated units (100% occupied)
  • RTI plans for 2 Attached ADUs to achieve 8.8% Current Cap Rate, 12.6% Proforma Cap Rate, 214k/door

OVERVIEW

10-unit building with 6 fully renovated units (100% occupied) Cash flowing at an amazing 7% Cap Rate from day 1 with upside to 10.8% Cap on Proforma. Fully Approved RTI plans to add 2 Attached ADUs to achieve a remarkable 8.8% Current Cap Rate, 12.6% Proforma Cap Rate, and only 214k/door after taking into account all constructions costs (assuming $250/SF). All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.

FOR SALE DETAILS

PRICE

$2,295,000 USD

PRICE/SF

$351 USD /SF

# OF UNITS

10

PRICE/UNIT

$229,500

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10-unit building with 6 fully renovated units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

lac2

APN/PARCEL ID

5154-006-009

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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