5917 Converse Ave - Multi-Family FOR SALE


Los Angeles, CA 90001- Florence-Graham
$650,000 USD
626-315-7603
5917 Converse Ave, Los Angeles, CA for Sale
$650,000 USD
Multi-Family - FOR SALE
1/47
null | 9.69% Cap Rate

5917 Converse Ave
Los Angeles, CA 90001
Florence-Graham


HIGHLIGHTS

  • Two-Property, 8-Unit Portfolio: Opportunity to acquire two separate 4-unit multifamily properties in Florence-Graham
  • Significant Rental Upside: $91,000+ in additional annual rental income potential through rent stabilization
  • Attractive In-Place & Stabilized Economics: Offered at $162,500 per unit and $234 per foot
  • Convenient access to the I-110, I-105, I-710, Metro rail, Downtown Los Angeles, and major employment centers throughout Los Angeles County
  • Large Lots & High Density R3 Zoning Provide Additional Upside via ADU and Redevelopment Potential
  • Residential Financing Available

OVERVIEW

SGV+ Multifamily Group of Compass Commercial Inc., as the Exclusive Listing Agent, is proud to present 5917 Converse Avenue and 1905 E 78th Street — a two-property multifamily portfolio consisting of two separate 4-unit properties located in the Florence-Graham neighborhood of Unincorporated Los Angeles. The Florence-Graham neighborhood is a strongly renter-oriented market, with more than 65% of occupied housing units being renter-occupied. Strategically positioned near the I-110, I-105, and I-710 freeways, the portfolio offers convenient access to major employment centers throughout Los Angeles County. Downtown Los Angeles is approximately 6 miles north, providing access to one of the region's largest employment hubs. Tenants also benefit from proximity to the Florence Metro Station, providing rail connectivity to Downtown Los Angeles and Downtown Long Beach. Numerous grocery stores, big-box retailers, neighborhood shops, restaurants, schools, parks, and other daily-needs amenities are located throughout the surrounding area. 5917 Converse Avenue offers approximately 2,550 SF of rentable living area across two separate structures situated on a generous 8,457 SF lot. The property consists of four 1-bedroom/1-bathroom units, averaging approximately 638 SF per unit. The property is currently generating just over $38,000 in annual rental income, equivalent to approximately $789 per unit per month. An investor familiar with prevailing market rents for comparable units in the surrounding area will recognize a significant opportunity to increase revenue, with the potential to capture more than $1,000 of additional monthly rental income per unit. Upon stabilization, the property offers the potential to achieve an approximately 9.69% CAP Rate and 7.47 GRM.

FOR SALE DETAILS

PRICE

$650,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

4

PRICE/UNIT

$162,500

CAP RATE

9.69%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5917 Converse Ave, Los Angeles, CA 90001

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,457 SF

ZONING

R3

APN/PARCEL ID

6008-038-018

ASK ABOUT THIS PROPERTY

Justino Fa'aolaCOMPASSMore Info
626-315-7603

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Justino Fa'aolaCOMPASSMore Info
626-315-7603

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