21-Unit Apartment + Commercial Property FOR SALE


Los Angeles, CA - Mid-City
$4,350,000 USD
714-883-6875
, Los Angeles, CA for Sale
$4,350,000 USD
FOR SALE
1/20
null | Request Cap Rate

21-Unit Apartment + Commercial Property
Los Angeles, CA
Mid-City


HIGHLIGHTS

  • Value-Add Purchase Opportunity
  • 2 Adjacent Properties Available Separately or Together
  • 21-Unit Apartment Plus Commercial Property
  • Current Combined $373,236 Gross Annual Income
  • Prime West Washington Mid-City Location
  • Designated Qualified Opportunity Zone Location

OVERVIEW

Major Properties is pleased to present two adjacent commercial properties located along the rapidly evolving Washington Boulevard corridor in Mid-City Los Angeles. The portfolio includes a 21 unit apartment property at 5022 W Washington Blvd and a commercial property at 5024–5030 W Washington Blvd. The properties may be acquired individually or together, offering investors, developers, and owner-users a rare opportunity to control approximately ±20,766 SF of land within an Opportunity Zone. 5022 W Washington Blvd: • For sale at $2,350,000 (±$311 per SF building) • 21 unit apartment complex (3 vacant units) • ±7,553 SF building on ±10,097 SF of land • Value-add opportunity • Current pro forma $183,660 NOI | 7.8% cap rate 5024–5030 W Washington Blvd: • For sale at $2,000,000 (±$565 per SF building) • Commercial property • ±3,540 SF building on ±10,669 SF of land • Redevelopment opportunity • Current $78,000 gross annual income Combined Portfolio: For sale at $4,350,000 (±$392 per SF building) • ±11,093 SF of buildings on ±20,766 SF of land • Designated Qualified Opportunity Zone • Prime Mid-City/West Adams location • Flexible LAC2 zoning

ASK ABOUT THIS PROPERTY

Jesse McKenzieMajor PropertiesMore Info
714-883-6875

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Jesse McKenzieMajor PropertiesMore Info
714-883-6875

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