1433 S New Hampshire Ave, Los Angeles, CA 90006

1433 S New Hampshire Ave, Los Angeles, CA 90006

Los Angeles, CA
$1,150,000

Property Description

6 unit value-add building in the Pico-Union area of Los Angeles. This property has a fantastic unit mix consisting of (1) 3-Bed/2-Bath unit, (1) 2-Bed/1-Bath unit, and (4) 1-Bed/1-Bath units. The property has 6 parking garages that are conveniently located for tenants. The mandatory retrofit has been completed on the garages. The property is being delivered at a 4.19% Cap and a 13.89 GRM on current rents with upside potential of a Market 8.46% Cap and 8.62 GRM. This property is surrounded by new development and is the perfect asset for a value-add investor.

Property Features

  • Sale Price: $1,150,000
  • Area Size: 4,277 SF
  • Land Area: 6,289 SF
  • Year Built: 1959
  • Listing Date: 11/02/2020
  • Closing Date: 3/15/2021
  • Units: 6
  • Current GRM: 13.89
  • Current Cap Rate: 4.195
  • Price Per Unit: $200,000
  • Market GRM: 8.62
  • Market Cap Rate: 8.46%
  • Current NOI: $50,281