239 W 113th St - Apartments FOR SALE


Los Angeles, CA 90061- Canndu/Avalon Gardens
$985,000 USD
310-978-7950
239 W 113th St, Los Angeles, CA for Sale
$985,000 USD
Apartments - FOR SALE
1/8
null | 6.56% Cap Rate

239 W 113th St
Los Angeles, CA 90061
Canndu/Avalon Gardens


HIGHLIGHTS

  • Current scheduled gross income of $114,384 annually, with average in-place rents at $1,589 per unit versus market rents estimated at $1,925
  • Operational asset delivering day-one cash flow with significant rent growth potential.
  • 21.2% loss-to-lease on offering underwriting
  • Largest rent gap concentrated in Unit 4 at $1,000/month

OVERVIEW

239 W 113th Street is a six-unit operator deal with day-one cash flow and visible rent upside. At the asking price of $985,000, the property is offered at $164,167 per unit and underwrites to a 6.56% current cap rate and 8.61 current GRM based on the offering financials. The deal works because the in-place income is there on day one. Scheduled gross income is $114,384, and the asset is separately metered for gas and electricity, which helps contain utility exposure. The upside is real, but it is execution-based. Current average rent is $1,589 per unit versus underwritten market rent of $1,925, with one unit at $1,000 creating a large portion of the rent gap. This is not a heavy repositioning deal. It is a cash-flowing six-unit with selective rent reset potential over time. For South LA small-balance buyers, the deal offers day-one income, separate utility metering, excess parking, and rent upside tied to turnover rather than heavy repositioning.

FOR SALE DETAILS

PRICE

$985,000 USD

PRICE/SF

$415 USD /SF

# OF UNITS

6

PRICE/UNIT

$164,167

CAP RATE

6.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1924

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

LAR2

APN/PARCEL ID

6074-023-031

ASK ABOUT THIS PROPERTY

Alexandro ColomboCOLOMBO | KW CommercialMore Info
310-978-7950

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Alexandro ColomboCOLOMBO | KW CommercialMore Info
310-978-7950

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