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123 Montreal St, Playa del Rey, CA 90293

$2,200,000

Description

Lyon | Stahl is pleased to present 123 Montreal St., a 4-unit apartment building in the Playa Del Rey neighborhood of Venice, California. This property has a total living area of 2,306 SF and is situated on a 4,603 SF lot. Consisting of two (2) 2-bed/1-bath and two (2) 1-bed/1bath units, the property has the potential to produce $11,500 per month (4.4%+ Market CAP & 15.60 Market GRM). The property, which was built in 1957 and is subject to rent-control, has four (4) on-site carports (one per unit) and plenty of street parking. The back 1-bed/1-bath unit has been recently renovated with new wood floors, kitchen counters, and bathrooms. Given the property’s upside in market rent potential and close proximity to the beach, this is a great opportunity for any investor looking to add a great piece of real estate to their portfolio.

Investment Highlights:

● 2,306 SF of total living space situated on 4,603 SF of land
● Four (4) units consisting of (2) 2-Bed/1-Bath & (2) 1-Bed/1-Bath
● Huge upside in market rent potential | Market – 4.4%+ CAP & 15.60 GRM
● Back 1-bed/1-bath unit has been recently renovated | New wood floors,
kitchen counters, & bathrooms
● Property has (4) on-site carports with sufficient street parking
● Built in 1957 | Subject to Los Angeles rent control provisions
● Incredible location in Playa Del Rey! Close proximity to the beach,
cafes/restaurants, & other retailers

Property Downloads

Address

  • City: Playa Del Rey
  • State/county: CA
  • Country: United States

Detail

Updated on November 13, 2018 at 11:50 pm

  • Price: $2,200,000
  • Property Size: 2,306 Sq Ft
  • Land Area: 4,603 Sq Ft
  • Garage Size: 4
  • Year Built: 1957
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 4
  • NOI: $74,499
  • GRM: 20.05
  • CAP RATE: 3.39%
  • Price per Unit: $550,000

Contact info

Brett Lyon
Brett Lyon
(310) 880-5328(310) 880-5328
Linkedin
Woody Stahl
Woody Stahl
(310) 880-0926(310) 880-0926
Linkedin

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