10745 La Grange Ave, Los Angeles, CA 90025

10745 La Grange Ave, Los Angeles, CA 90025

Los Angeles, CA

Property Description

Lyon Stahl Investment Real Estate & JNM Realty are proud to present 10745 La Grange Ave in Los Angeles. This beautiful 8-unit apartment building is on the market for the first time in 39 years! This very well-maintained 8,182 sq ft building is situated on a 7,435 sq ft lot, zoned LAR3 in a Tier 2 TOC designated zone. Built in 1963, this property features a unit mix of (4) 2-bed/2-bath units, (2) 2-bed/1.5-bath townhouse-style units, and (2) 1-bed/1-bath units, currently bringing in rental income of $20,977 monthly and $251,724 annually. One town-house-style unit was fully renovated in 2017, two units feature balconies, and within the past 5 years, the roof has been replaced and new copper plumbing has been installed.

The property is in a prime West LA location near the 405/10 freeways, Westfield Century City, Los Angeles Country Club, UCLA, Westwood Village, Beverly Hills, Santa Monica, Culver City, Westside Pavilion (future home of Google), and two expo line stations. This is a perfect investment opportunity for anyone looking to acquire a multifamily asset in a prime location with limited inventory, featuring completed EQ retrofitting, upcoming vacancies, 2 decontrolled units, and potential to build 14 units, utilizing the TOC designation.

<strong>Investment Highlights: </strong>

• Unit Mix: (4) 2-Bed/2-Bath, (2) 2-Bed/1.5-Bath Townhouse-Style, (2) 1-Bed/1-Bath Units
• 8,182 SF Two-Story building on a large 7,435 SF Lot
• Built in 1963 | Some units recently updated/remodeled
• 3-4 upcoming vacancies | 2 Non-Rent-Controlled Units
• Current 3.77% CAP &amp; 16.6 GRM | Proforma 4.77% CAP &amp; 14.2 GRM
• Seismic Retrofitting almost complete
• Zoned LAR3 | Tier 2 TOC
• Incredible Location: Within 2 miles of UCLA, Westwood Village, Westfield Century City, LA Country Club, Metro Expo Lines, Google’s new campus development: One Westside, and more!

[arve url=”https://vimeo.com/349548877″ /]

Property Features

  • Sale Price: $4,165,000
  • Area Size: 8,182 SF
  • Land Area: 7,435 SF
  • Year Built: 1963
  • Closing Date: 9/10/19
  • Units: 8
  • Current GRM: 16.68
  • Current Cap Rate: 3.77%
  • Price Per Unit: $525,000
  • Market GRM: 14.23
  • Market Cap Rate: 4.77%

Lyon Stahl Investment Real Estate

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