2923 Brighton Ave, Los Angeles, CA 90018

2923 Brighton Ave, Los Angeles, CA 90018

Los Angeles, CA

Property Description

Beautiful, value-add property located at 2923 Brighton Ave. in Los Angeles. This well maintained 5-Unit asset has a great location being only mile from USC, and tons of upside available for the new owner.

Brighton has a great unit mix consisting of (1) 2-Bed/1-Bath Townhouse style unit, (1) 2-Bed/1-Bath unit, and (3) 1-Bed/1-Bath units. Offering immediate upside, one of the 1-Bed/1-Bath units will be delivered vacant, a perfect opportunity to implement market rents. Both the plumbing and electrical systems have been updated, as well as some of the units receiving recent interior upgrades. The property comes equipped with 5 parking garages that are conveniently located for tenants.

Being delivered at a 4.35% cap rate, this asset has tremendous value-add potential with a 8.05% market cap and 9.03 market GRM. This is the perfect opportunity for an owner/user buyer or an investor looking for a value add product in a high demand area.

Property Features

  • Sale Price: $1,050,000
  • Area Size: 3,088 SF
  • Land Area: 7,100 SF
  • Year Built: 1922
  • Listing Date: 7/21/2020
  • Closing Date: 9/10/2020
  • Units: 5
  • Current GRM: 13.78
  • Current Cap Rate: 4.35%
  • Price Per Unit: $220,000
  • Market GRM: 9.03
  • Market Cap Rate: 8.05%
  • Current NOI: $47,835