2027 S Ridgeley Dr - Apartments FOR SALE


Los Angeles, CA 90016- Mid-City
$1,995,000 USD
213-631-8788
2027 S Ridgeley Dr, Los Angeles, CA for Sale
$1,995,000 USD
Apartments - FOR SALE
1/11
null | 5.9% Cap Rate

2027 S Ridgeley Dr
Los Angeles, CA 90016
Mid-City


HIGHLIGHTS

  • Strong Rental Demand
  • Value-Add Opportunity
  • Great Walk Score
  • On-site Parking & Laundry

OVERVIEW

CBRE is proud to exclusively present 2027 S Ridgeley Dr in the Mid-City submarket of Los Angeles. Positioned in a centrally located, high-connectivity pocket of the city, this property offers investors a rare opportunity to acquire a stabilized multifamily asset in one of Los Angeles’ most accessible submarkets. 2027 S Ridgeley Dr is a multifamily property constructed in 1957 on a ±9,712 square foot lot, with a total building size of ±5,838 square feet. The property features a favorable, balanced unit mix of 4 two-bedroom/ one-bathroom units and 4 one-bedroom/one-bathroom units, along with laundry facilities and 8 on-site parking spaces, a meaningful amenity in a submarket where on-site laundry and off-street parking is limited. The property is currently 100% occupied, providing a buyer with immediate, stabilized cash flow at close of escrow. A new owner can capitalize on this stability while positioning for long-term rent growth as natural turnover occurs in a submarket where new competitive supply remains constrained.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$342 USD /SF

# OF UNITS

8

PRICE/UNIT

$249,375

CAP RATE

5.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,714 SF

ZONING

RD1.5, Los Angeles

APN/PARCEL ID

5063-025-007

ASK ABOUT THIS PROPERTY

Jenny EngCBREMore Info
213-631-8788

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Jenny EngCBREMore Info
213-631-8788

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