Lyon Stahl is pleased to present this excellent multifamily opportunity at 2518 Randolph St, Huntington Park, CA. The property is a 10-unit apartment building in the red-hot Mid Cities/Southeast LA submarket with NO RENT CONTROL and features a unit mix of (2) 2-bed/1-bath two-story units and (8) 1-bed/1-bath single story units with large backyards. Each unit has its own washer/dryer and (1) parking space, which is crucial given the proximity to Downtown.
This offering represents a tremendous Value Add Opportunity. Each unit has major rent upside and the building sits on a massive, and very rare, 15,609 square foot lot. The land boasts a Walk Score® of 92 and sits only 500 ft away from Pacific Blvd, which serves as Downtown Huntington Park. This prime rental location is just steps away from grocery and convenience stores, restaurants, and Huntington Park’s shopping and entertainment district. Moreover, there are (3) Elementary Schools, (1) Middle School, (2) High Schools, and (1) College within 1 mile of the subject property. All said, these entities will continue to surge population growth – the greatest demand driver in the multi-family market. Even more so, the constant expansion of more business will keep the employment rate stable and thus, continue to drive the median household income.
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.
• Incredible Value Add Opportunity
• Major Rent Upside with No Rent Control
• Very Rare Oversized 15,609 SF Lot with Commercial General (HPGC) zoning
• Walk Score® – 92: Prime Rental Location, only 500 ft from Pacific Blvd/Downtown Huntington Park
• Unit Mix: (2) 2-bed/1-bath two-story units, (8) 1-bed/1-bath single story units with large backyards
• Current CAP – 4.33%, Market CAP – 6.39%
• Current GRM – 14.84, Market GRM – 10.83
• Southeast LA/Huntington Park sub market’s vacancy remain near all-time lows while maintaining healthy rent growth year by year