7758 W 91st St - Apartments FOR SALE


Playa del Rey, CA 90293
$3,690,000 USD
424-239-5903
7758 W 91st St, Playa del Rey, CA for Sale
$3,690,000 USD
Apartments - FOR SALE
1/15
null | 3.9% Cap Rate

7758 W 91st St
Playa del Rey, CA 90293


HIGHLIGHTS

  • Prime Silicon beach Location
  • Continued Value-Add Opportunity for Premium Finishes
  • Oversized Units Feature Private Balconies and Natural Light
  • Large Corner Lot with Alley Access
  • Near Lulu's Place Development

OVERVIEW

The West 91st Street Apartments is a 6-unit apartment building located at 7758 W 91st Street in the coveted Playa del Rey neighborhood of Los Angeles. The building is 7,603 square feet and sits on a 7,896-square-foot corner lot just north of Saint Bernard High School. The structure is two residential stories with tuck under parking in the rear (seismic retro?tting completed in 2019). Built in 1964 and situated in the City of Los Angeles the property is subject to the City of Los Angeles Rent Control Ordinance. The subject property is a prime example of modern, mid-century architecture popular in Playa del Rey in the early 1960s. The curb appeal has been smartly updated with a modern two-tone paint scheme, stone accent walls and clean landscaping. The subject property consists of (1) one-bedroom with one-bath unit, (3) two-bedroom with one and three-quarter bathroom units, (1) three-bedroom with one and three-quarter bath unit and (1) three-bedroom plus den with two and three-quarter bath unit. The units are large with ample natural light and gas ?replaces. Additionally, both three-bedroom units feature in-unit laundry (building-owned). The size and design of the subject property and the units resemble luxury condos in the immediate vicinity, allowing investors to institute condo-quality renovations upon turnover and maximize market rents. The building is all-electric and is separately metered for electricity. Units feature electric radiant wall heat. Gas is master-metered for the central water heater, ?replaces, and tenant laundry. A laundry room on the 2nd floor features one washer and one dryer (leased). There is controlled access to the building for added security to the residents. Parking consists of a total of 6 assigned spaces.

FOR SALE DETAILS

PRICE

$3,690,000 USD

PRICE/SF

$485 USD /SF

# OF UNITS

6

PRICE/UNIT

$615,000

CAP RATE

3.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,893 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

4118-010-016

ASK ABOUT THIS PROPERTY

Steffan BraunlichBerkadiaMore Info
424-239-5903

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Steffan BraunlichBerkadiaMore Info
424-239-5903

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