Lyon Stahl is pleased to present this excellent multifamily opportunity at 6363 Cedar St, Huntington Park, CA. The property is a 7 unit apartment building in the red-hot Southeast LA submarket with NO RENT CONTROL. The property also lies inside of an Opportunity Zone.
This property boasts a desirable unit mix consisting of (1) 3-bed/1.5-bath, (1) 2-bed/1.5-bath, and (5) 2-bed/1-bath units and a total square footage of 6,912 square feet. Each unit has its own garage and walk-in closet, and the master unit has (2) of each. The interiors are well maintained with capital improvements and there is little-to-no deferred maintenance on the property.
This property has excellent financials with upside to achieve more. The current CAP Rate is 4.85% with an achievable market CAP of 6.42%. Additionally, the current GRM sits at 13.12 with a market GRM of 10.83. With regards to what has sold in the area, these numbers put this opportunity at the forefront.
In this Southeast LA submarket, the combination of low vacancies, healthy rent growth, below-average prices, and proximity to Downtown has drawn the attention of investors priced out of other parts of LA.
• Desirable unit mix consisting of (1) 3-bed/1.5-bath, (1) 2-bed/1.5-bath, and (5) 2-bed/1-bath units
• Each unit has own garage and walk-in closet (large unit has 2 of each)
• No Rent Control/Opportunity Zone
• Southeast LA/Huntington Park sub market’s vacancy remain near all-time lows while maintaining healthy rent growth year by year
• Current CAP – 4.85, Market CAP – 6.42
• Current GRM – 13.12, Market GRM – 10.83