501-507 S Carondelet St - Apartments FOR SALE
Los Angeles, CA 90057 |
501-507 S Carondelet St
Los Angeles, CA 90057
HIGHLIGHTS
- Value add 8-unit apartment building in MacArthur Park with approximately 31% upside in rent. Two of the units are vacant and will be delivered vacant
- Low price per foot ($199.76/sf) and unit ($163,750/unit) and excellent financial metrics: Cap Rate – 5.13% (current)/8.69% (proforma) and GRM – 11.77
- Building feat copper plumbing throughout (vertical/horizontal replaced within last 10 years), roofs replaced w/in last 10 years, indivl water heaters
- Units feature spacious layouts with a lot of windows creating natural light, wood floors, front/back doors, large closets
- Excellent unit mix: two (2) studio/one-bathroom units and six (6) one-bedroom/one-bathroom units
- Walk Score of 96: close proximity to trendy retail, restaurants and cafes on Wilshire Boulevard and 6th Street
FOR SALE DETAILS
PRICE
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# OF UNITS
-
CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
6558
STORIES
2
YEAR BUILT
1923
PARKING SPACES
-
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
5155-029-001
