650 S Detroit St - Apartments FOR SALE


Los Angeles, CA 90036- Miracle Mile
$4,000,000 USD
310-666-5837
650 S Detroit St, Los Angeles, CA for Sale
$4,000,000 USD
Apartments - FOR SALE
1/6
null | 4.82% Cap Rate

650 S Detroit St
Los Angeles, CA 90036
Miracle Mile


OVERVIEW

Michael Kamara of Lyon Stahl is pleased to present 650 S Detroit St, a 16 unit apartment building located in the Miracle Mile, a highly desirable neighborhood in Los Angeles, California. Built in 1931, the property consists of (4) studio units, (8) one-bedroom + one-bathroom units, (3) two- bedroom + one-bathroom units, (1) two-bedroom + one-and-a-half-bathroom units. The building is 16,290 gross square feet and sits on a 7,501 square foot lot. Nestled in the heart of Miracle Mile, 650 S Detroit St offers residents a central Los Angeles lifestyle surrounded by culture, dining, and entertainment. Just steps from Museum Row, including LACMA, the Petersen Automotive Museum, and the Academy Museum, this property places tenants at the intersection of art, history, and modern living. With a Walk Score of 93, residents enjoy easy access to local cafés, trendy restaurants, boutique shopping, and iconic destinations such as The Grove and the Original Farmers Market. Combining a prime Mid-Wilshire location with excellent connectivity, 650 S Detroit St delivers the ideal mix of convenience, culture, and lifestyle that keeps renters highly attracted to this sought-after neighborhood. The property currently delivers an initial CAP rate of 4.82%, with the potential to reach a 6.75% CAP rate upon unit turnover.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$392 USD /SF

# OF UNITS

16

PRICE/UNIT

$250,000

CAP RATE

4.82%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

LAR4

APN/PARCEL ID

5508-007-009

ASK ABOUT THIS PROPERTY

Michael KamaraLyon Stahl Investment Real EstateMore Info
310-666-5837

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Michael KamaraLyon Stahl Investment Real EstateMore Info
310-666-5837

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