3513 S Bronson Ave, Los Angeles, CA 90018

3513 S Bronson Ave, Los Angeles, CA 90018

Los Angeles, CA

Property Description

3513 S Bronson Ave is a highly desirable 4-Plex accompanied with ready to issue permits to add 2 new units. This 4+2 Unit building is located in the highly sought after market in Crenshaw with plenty of upside for an investor looking to increase the value. This value add apartment building is located in the 90018 zip code in Los Angeles and priced under $250k per unit. With RTI plans for 2 ADU units, the property would operate at a 5.37% CAP and 12.35 GRM.
The subject property has a unit mix of (4) 1-Bed/1-Bath units with plans in place for (1) 1-Bed/1-Bath and (1) Studio, totaling 6 units after construction. The potential of this building reaches above a 9.60% Cap rate and a GRM at 8.00. All units have their own electric and gas meters. This property offers the rare opportunity to lock in a 30- year fixed residential loan while having 6 units on site.
This property is adjacent to Baldwin Village and Leimert Park in a rapidly growing submarket of Los Angeles. With easy access to the 10 Freeway, the property is a 20 minute drive to UCLA and 10 minutes to USC, truly a central hub of Los Angeles.

Property Features

  • Sale Price: $1,010,000
  • Area Size: 2,274 SF
  • Year Built: 1941
  • Listing Date: May 5, 2022
  • Closing Date: 7/5/2022
  • Units: 4
  • Current GRM: 12.35
  • Current Cap Rate: 5.37$
  • Market GRM: 8
  • Market Cap Rate: 9.65%