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1280 West Boulevard, Los Angeles, CA 90019

1280 West Boulevard, Los Angeles, CA 90019
$1,299,000

Description

Lyon Stahl is pleased to present this well-located Mid-City fourplex at 1280 West Blvd, LA 90019. Featuring four large 2 Bedroom 1 Bath units with 4,028 total rentable SF. There is currently one recently renovated vacant unit with a market rent of $2,500/mth so once leased, the current gross income will be $7,394/mth; $88,728/yr. At our $1,299,000 asking price, the offering is priced at $324,750/unit; a 14.64 current GRM; an 11.28 market GRM; a 4.31% current CAP; a 6.29% market CAP, and $322/SF. It presents a great opportunity for either an investor or owner-user buyer looking to take occupancy of the vacant 2+1 unit & have solid rental income to help assist with their mortgage payment. Large 7,031sf lot zoned R3 also offers future redevelopment options.

Prime Mid-City location only steps from the Queen Anne Park/Recreation Center & a short walk to the Midtown Crossing center with a great list of national retailers including Lowe’s; Ross; Smart & Final; Starbuck’s; Wells Fargo; Planet Fitness; Jersey Mike’s & Panda Express to name a few. Additionally, it is less than a mile drive to great grocery options including Ralphs; Sprouts & the new Target Mid-City on La Brea. The property is also only a short trip to local hot spots like Gus’s World-Famous Fried Chicken; the Grain Cafe; Roscoe’s; La Cevicheria; Leo’s Taco Truck, and Mateo’s Fruit Bars to name a few. A walk score of 90 & a transit score of 64 makes it a walker/commuter’s paradise. It’s also a very family-friendly neighborhood with cool parks like LA High Memorial & Harold A. Henry Park in close proximity, as well as good local education options including Pico Preschool; Queen Anne Place Elementary School & LA High School.

Deal Highlights:
• Well-located 4 Unit property with a great unit mix of four large 2 Bedroom 1 Bath units (one delivered vacant) & solid in-place income of $7,394/mth; $88,728/yr with further rent upside remaining
• Convenient Mid-City (Dockweiler) location in the heart of LA & only steps from the Lowe’s anchored Midtown Crossing shopping center. With a fantastic walk score of 90 & transit score of 64 your new tenants can leave their cars at home
• Great investor or owner-user opportunity with a vacant 2 Bed unit to either owner-occupy or rent immediately at a $2,500 market rate. This is also a large 7,031sf lot zoned R3, allowing for 9 new units by-right & it’s also in a TOC Tier 2 zone

Property Downloads

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on February 13, 2020 at 8:48 am

  • Price: $1,299,000
  • List Date: 1/27/2020
  • Property Size: 4028 Sq Ft
  • Land Area: 7031 Sq Ft
  • Year Built: 1949
  • Property Type: Multifamily
  • Property Status: Active Under Contract
  • Numbers of Units: 4
  • GRM: 14.64
  • CAP RATE: 4.31%
  • Price per Unit: $324,750
  • Market GRM: 11.28
  • Market CAP RATE: 6.29%

Contact info

Matt Dunfrund
Matt Dunfrund
(424) 330-2015(310) 367-9666
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