1973-2015 W 22nd St - Apartments FOR SALE


Los Angeles, CA 90018- West Adams
$3,000,000 USD
310-600-9858
1973-2015 W 22nd St, Los Angeles, CA for Sale
$3,000,000 USD
Apartments - FOR SALE
1/11
null | 4.38% Cap Rate

1973-2015 W 22nd St
Los Angeles, CA 90018
West Adams


HIGHLIGHTS

  • Low cost basis offered at $166,667 per unit and $238 per square foot
  • 18 units located on two adjacent parcels with a total of 24,239 square feet on land zoned LAR3
  • Nearly 70% upside potential
  • On-site gated parking for 28 vehicles
  • Ample space on-site provides ADU potential per SB 1211. Buyer to verify

OVERVIEW

We are pleased to present 1973-2015 W. 22nd Street, an 18-unit multifamily opportunity located in the heart of West Adams. The offering comprises two adjacent apartment buildings on one large parcel totaling 24,239 sf. The unit mix includes five (2-bedroom, 1-bath) and thirteen (1-bedroom, 1-bath) units. The unique lot offers parking for 28 individual vehicles allowing a new investor the opportunity to build additional units while preserving parking. This investment is being offered at a very attractive price per unit ($166,667) and price per square foot ($234). With nearly 70% upside in rents, this investment provides both a great basis with the ability to increase the cash flow to double digit returns. West Adams continues to experience significant growth and revitalization. Ongoing development and planned improvements along West Adams Boulevard enhance the long-term value and stability of this asset, making it a compelling investment in a rapidly evolving submarket.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$196 USD /SF

# OF UNITS

18

PRICE/UNIT

$166,667

CAP RATE

4.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,239 SF

ZONING

LAR3

APN/PARCEL ID

5058-024-017,5058-024-018

ASK ABOUT THIS PROPERTY

Will JamesLyon Stahl Investment Real EstateMore Info
310-600-9858

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Will JamesLyon Stahl Investment Real EstateMore Info
310-600-9858

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