645 W 97th St - Apartments FOR SALE


Los Angeles, CA 90044- South Central LA
$1,490,000 USD
424-405-3826
645 W 97th St, Los Angeles, CA for Sale
$1,490,000 USD
Apartments - FOR SALE
1/12
null | 7.84% Cap Rate

645 W 97th St
Los Angeles, CA 90044
South Central LA


HIGHLIGHTS

  • No Rent Control: 2020 construction asset not subject to rent control, allowing for full operational flexibility and the ability to achieve market rent
  • Strong Unit Mix: Rare offering of all four-bedroom/three-bath units, including a 1,700 SF front home and two 1,561 SF duplex units
  • Front Home Delivered Vacant: Spacious front residence with attached two-car garage delivered vacant, providing immediate owner-user potential
  • Modern Finishes & Amenities: Open-concept layouts with white shaker cabinetry, tile backsplashes, custom bathrooms, in-unit laundry, HVAC

OVERVIEW

Marcus & Millichap is pleased to present to market 645 West 97th Street, a 2020 construction home and duplex on one lot in South Los Angeles. This property presents a rare opportunity to acquire a non-rent controlled asset with all four-bedroom/three-bath units. Furthermore, the front home will be delivered vacant, offering a new investor the opportunity to either owner-occupy or lease at market rate. The front home boasts a spacious 1,700-square foot floor plan with an attached two-car garage, and the rear duplex features side-by-side units with 1,561-square foot floor plans. All units feature open-concept living areas, spacious primary suites with walk-in closets, and cohesive modern finishes. Interior highlights include white shaker cabinetry, tile backsplashes, stainless steel range hoods, custom-tiled bathrooms, durable laminate flooring in common areas, and carpeting in bedrooms. All units include individual HVAC systems, in-unit laundry, and custom window coverings. The units are separately metered for all utilities, keeping owner expenses at a minimum. Located in South Los Angeles west of the 110 Freeway, the asset benefits from strong rental demand drivers, nearby schools and retail amenities, and ongoing area development.

FOR SALE DETAILS

PRICE

$1,490,000 USD

PRICE/SF

$310 USD /SF

# OF UNITS

3

PRICE/UNIT

$496,667

CAP RATE

7.84%

% LEASED

67%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7.47% CAP & 10.07 GRM w/ No Rent Control

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2020

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,301 SF

ZONING

-

APN/PARCEL ID

6054-027-027

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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