3407-3411 Drew St - Apartments FOR SALE


Los Angeles, CA 90065- Atwater Village
$6,200,000 USD
323-376-2469
3407-3411 Drew St, Los Angeles, CA for Sale
$6,200,000 USD
Apartments - FOR SALE
1/13
null | 5.5% Cap Rate

3407-3411 Drew St
Los Angeles, CA 90065
Atwater Village


HIGHLIGHTS

  • Rare Opportunity to Purchase a 31-Unit Portfolio in Glassell Park
  • Zero (0) Properties have Sold Over 30 Units in Glassell Park in the Last Three (3) Years
  • Almost Entirely Spacious Two-Bedroom Units (77% of Units)
  • Nine (9) of the Units are Two-Story Two-Bedroom Townhome Style Units
  • Attractively Priced at a 10.40 Gross Rent Multiplier
  • Value-Add Component: At Least 30% Rental Upside

OVERVIEW

Kingside Investment Group of Keller Williams is proud to exclusively present for sale a 31-unit apartment portfolio in the heart of Glassell Park. The last time a portfolio of this magnitude was offered for sale was almost five years ago. The property is a short distance from a myriad of dining options such as Dunsmoor, The Grant, Solarc Brewing, and Bub and Grandma’s Restaurant. Tenants have easy access to multiple public transportation options and freeways which connect to the heart of Downtown Los Angeles. 3407 Drew Street is a 16-unit apartment building consisting of five (5) one-bedroom units, two (2) two-bedroom/one-bathroom units, and nine (9) two-story two-bedroom/one-and-a-half bathroom units spread across 12,083 rentable square feet. Each unit is separately metered for gas/electric, and it is allocated one parking space. 3411 Drew Street is a 15-unit apartment complex consisting of two (2) one-bedroom units and thirteen (13) two-bedroom units spread across 11,124 rentable square feet. Each unit is separately metered for gas/electric and it is allocated one parking space.

FOR SALE DETAILS

PRICE

$6,200,000 USD

PRICE/SF

$267 USD /SF

# OF UNITS

31

PRICE/UNIT

$200,000

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Drew St Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

31

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

26,945 SF

ZONING

RD2

APN/PARCEL ID

5459-010-005,5459-010-006

ASK ABOUT THIS PROPERTY

Andres DiazKW CommercialMore Info
323-376-2469

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

Andres DiazKW CommercialMore Info
323-376-2469

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