Just Listed – Non-rent Control 8-unit Complex in Harbor City

Just Listed – Non-rent Control 8-unit Complex in Harbor City

Austin Longwell and Johnnie Stiegler of Lyon | Stahl are pleased to present 25423 Frampton Ave,
an 8-unit apartment complex in Harbor City!

Listed at $1,625,000 this building was built in 1983has a cap rate of 4.59% and an NOI of $74,579.

This NON-RENT CONTROL asset is a 5,669 SF apartment complex situated on a 7,501 SF lot. Conveniently located less than a mile from PCH,
the 110 Freeway, Kaiser Permanente, and less than two miles from major retailers such as Costco, Whole Foods, Rite, Aide, and many others.
The unit mix is comprised of two 2-bedrooms/1-bathrooms units, five 1-bedroom/1-bath units, and one studio. The property
has gated parking with remote controlled entry allowing tenants access to three carport spaces and 5 parking spaces.

Onsite amenities include a laundry room, landscaped common areas, storage cabinets, and harbor views. The structure
was built in 1983 and has a hip shaped composition shingle roof. The annualized gross scheduled income is more than $111,000
and offers potential buyers nearly 20% in rental upside! At $286 PSF this investment opportunity will not last long!


Investment Highlights:

● 1983 Construction not subject to rent control.
● Gated & Secure lot with 3 carport spaces & 5 parking spaces.
● 14.6 GRM | 4.66% Cap | $203,125/Door | $286/SF
● The annualized gross scheduled income is more than $111,000 and offers
potential buyers nearly 15% in rental upside!
● Perfect stabilized asset with major value-add opportunity.

 

County Overview:

The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. The metropolis – formed by the six neighboring counties of Los Angeles, Ventura, Kern, San Bernardino, Riverside, and Orange – is home to approximately 19 million residents. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. Los Angeles County has the largest population of any county in the nation, exceeded only by eight states. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.

 

 


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