1350 W 88th St, Los Angeles, CA 90044

1350 W 88th St, Los Angeles, CA 90044

Los Angeles, CA

Property Description

1350 W 88th St is a renovated 4-Plex comprised of all 2-Bed/1.5-Bath Townhouse style (2-Story) Units and delivered with three units that will vacate by close of escrow. Both LA Planning Department and LA Building department have provided approval stamps and ADU construction is ready to begin day 1. This 4 unit building is located in a rapidly growing submarket of unincorporated Los Angeles with plenty of value for an investor or owner/user looking to increase the value. The subject property is located in the 90044 zip code and currently priced at a 5.57% cap rate! After the addition of the ADU, the subject property will operate at a 8.61% cap rate, including estimated construction costs. With three of four units currently renovated and will vacate by close of escrow, this asset will immediately cash flow and is fit for any investor looking for stable income and the opportunity to add value through the process of ADUs. Located in an unincorporated area of Los Angeles County and NOT in Los Angeles City, the subject property is steps from the new recreational developments nearby. With close proximity to Inglewood’s new SoFi Stadium, Intuit Dome as well as, Downtown LA’s Crypto.com arena, USC, Los Angeles Memorial Coliseum and BMO Stadium.

Property Features

  • Sale Price: $1,307,000
  • Area Size: 3,960 Sq. Ft.
  • Land Area: 6,921 Sq. Ft.
  • Year Built: 1967
  • Listing Date: 9/28/2023
  • Closing Date: 11/13/2023
  • Units: 4
  • Current GRM: 12.67
  • Current Cap Rate: 5.59%
  • Price Per Unit: $323,750
  • Market GRM: 6.76
  • Market Cap Rate: 12.29%
  • Current NOI: $72,441