411 & 425 S Alexandria ave - Multi-Family FOR SALE


Los Angeles, CA 90020- Koreatown
$10,990,000 USD
310-621-8221
411 & 425 S Alexandria ave, Los Angeles, CA for Sale
$10,990,000 USD
Multi-Family - FOR SALE
1/9
null | 5.84% Cap Rate

411 & 425 S Alexandria ave
Los Angeles, CA 90020
Koreatown


HIGHLIGHTS

  • 2 Separate APN's and 215 Feet of Frontage in Prime Koreatown
  • Low Cost Per Unit, Low GRM & Attractive Current Cap Rate
  • Low Density and Well Maintained Courtyard Buildings
  • Impressive Rental Upside & Long Term Development Potential
  • Attractive Unit Mix that is Ideal for the Immediate Rental Market

OVERVIEW

411 & 425 S Alexandria Ave is a 2 property apartment community constructed in 1955 & 1956. The properties are on separate APN’s and can later be sold separately. Situated on R4-1 lots totaling approximately 33,354 square feet with 215 feet of frontage, the properties offer a unique opportunity as a value added opportunity to reposition the existing structures and units or potentially to redevelop the site in the long term. The property consists of (15) Studio/One-Bath units, (36) One-Bed/One-Bath units, (1) Two-Bed/One Bath unit, and (2) Two-Bed/Two Bath units that are separately metered for gas and electricity. Parking at 425 S Alexandria is subterranean and tuck under and carports at 411 S Alexandria. Both properties contain swimming pools and are two story courtyard structures with pitched roofs constructed of wood frame and stucco.

FOR SALE DETAILS

PRICE

$10,990,000 USD

PRICE/SF

$356 USD /SF

# OF UNITS

54

PRICE/UNIT

$203,519

CAP RATE

5.84%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

411 & 425 S. Alexandria

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,696 SF

ZONING

R4-1

APN/PARCEL ID

5502-014-011

ASK ABOUT THIS PROPERTY

Brent SprenkleNorthmarqMore Info
310-621-8221

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Brent SprenkleNorthmarqMore Info
310-621-8221

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