8124 W 83rd St, Playa del Rey, CA 90293

8124 W 83rd St, Playa del Rey, CA 90293

Playa del Rey, CA
$1,995,000

Property Description

8124 W 83rd Street is a well-maintained 5-unit apartment building located in the coveted area of Playa del Rey. This property features ideal unit mix, including (1) 3-bed/2-bath, (2) 2-bed/1-bath, and (2) 1-bed/1-bath units, catering to a range of tenant needs. Please do not disturb the tenants. The building features copper plumbing throughout, ensuring long-term durability and low maintenance requirements. The property offers a strong financial return from day one, for sale at a near 5% CAP rate and 12.85 GRM w/ 27% rental upside. Through continued improvements and simple rent increases, the property has potential to operate at a 6.80% CAP rate and 10.13 GRM. With a highly desirable location with easy access to the beach, Loyola Marymount University, and Playa del Rey’s and Playa Vista’s retail and dining options, this property represents a prime investment opportunity in a sought-after neighborhood.

Property Features

  • Sale Price: $1,995,000
  • Area Size: 4,351 Sq Ft
  • Land Area: 6,254 sq ft lot
  • Year Built: 1958
  • Units: 5
  • Current Cap Rate: 6.80%
  • Price Per Unit: 10.13

Lyon Stahl Investment Real Estate

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