6126 Brynhurst Ave - Apartments FOR SALE


Los Angeles, CA 90043- Park Mesa Heights
$995,000 USD
310-593-9868
6126 Brynhurst Ave, Los Angeles, CA for Sale
$995,000 USD
Apartments - FOR SALE
1/10
null | 3.41% Cap Rate

6126 Brynhurst Ave
Los Angeles, CA 90043
Park Mesa Heights


HIGHLIGHTS

  • 7-Unit Apartment Located in the Hyde Park Neighborhood of Los Angeles | Large 9,477-SF Lot
  • Rare LAR3 TOC Tier 3 Zoning – Build Up to 21 Units* | High Density Bonus Allowance w/ No Subterranean Parking Required & Only 0.5 Parking Spaces/Unit
  • Tremendous Value-Add Opportunity | Approximately 89% in Rental Upside | 10.52% Pro-Forma Cap Rate & 6.43 Pro-Forma GRM
  • Unit Mix of (One) 2-Bedroom/1-Bathroom House & (Six) 1-Bedroom/1-Bathroom Units | Offered at $142,143 Per Unit & $267 Per SF
  • Located Just a Few Blocks from Hyde Park Station for the Crenshaw/LAX Metro Transit Line (K Line)
  • Located 2 Miles from Baldwin Hills Crenshaw Plaza, SoFi Stadium & The Forum and Approximately 2.5 Mile from Intuit Dome

OVERVIEW

ASSET 7-unit apartment located in the Hyde Park neighborhood of Los Angeles. The property is comprised of (one) 2-bedroom/1-bathroom house and (six) 1-bedroom/1-bathroom units. Situated on a large 9,477-SF lot, the property is zoned LAR3 with a Tier 3 TOC (Transit Orient Communities), which allows for the development of up to 21 units*. Given the TO3 Tier 3 allowance, subterranean parking is not required, and a developer is only responsible for 0.5 parking spaces per unit. The large lot presents an outstanding opportunity to develop up to 21 units* or to add ADUs in a dense rental market of Los Angeles. LOCATION This 3,723-SF apartment is located just a few blocks from the Hyde Park Station of the Crenshaw/LAX Metro Line. The Crenshaw/LAX line (K Line) is a $2.1 Billion project of an 8.5-mile light rail line connecting South Los Angeles to the South Bay and the Los Angeles Airport. In a separate phase of the project, Metro hopes to add plans to extend the line to as far north as Hollywood. Furthermore, the asset is located just south of Slauson Avenue and west of Crenshaw Boulevard, which provides tenants with an abundance of retail shops, restaurants, entertainment, and grocery stores. The property is located 2 miles from Baldwin Hills Crenshaw Plaza, SoFi Stadium and The Forum and approximately 2.5 miles from Intuit Dome (NBA Clippers Arena). FINANCIALS Offered at a 10.52% pro-forma cap rate and 6.43 pro-forma GRM, 6126 Brynhurst Avenue has rents which are +/- 89% below market. The property is being offered at $142,143 per unit and $267 per square foot. *Please do not disturb tenants. Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$267 USD /SF

# OF UNITS

7

PRICE/UNIT

$142,143

CAP RATE

3.41%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,477 SF

ZONING

LAR3

APN/PARCEL ID

4006-005-019

ASK ABOUT THIS PROPERTY

Jonathan NikfarjamShield Commercial Real EstateMore Info
310-593-9868

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Jonathan NikfarjamShield Commercial Real EstateMore Info
310-593-9868

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