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    1846 Cordova St

    Los Angeles, CA 90007
    • $1,750,000
    • STATUS: Active
    • ON SITE: 161 days
    • ID#: 20-594982
    UPDATED: 12 min ago
    $1,750,000
    • 16
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,280
      SQFT
    • $331
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:

    School Ratings & Info

    Description

    Built in 1959, this 8-unit property totals 5,280 SF located in Mid-City's Harvard Heights, between Normandie Ave & S Mariposa Ave, just south of Washington Blvd. The building features a unit mix of exclusively two-bed one-bath apartments. This offering presents an investor the opportunity to acquire a value-add asset with a 37% loss-to-lease and a pro forma CAPrate of 7.99% through renovations when the units turn. The property is being offered at a 14.18 GRM on current income and a low price per unit of $215,625.Furthermore, there are 8 parking spaces for the building secured by a gated entrance. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10 Freeway and transportation options within walking distance.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-02T09:42:57.96. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.trulinerealty.com/homes/107148590
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    1846 Cordova St Los Angeles, CA 90007

    • Price: $1,750,000
    • Status: Active
    • Updated: 12 min ago
    • ID#: 20-594982
    16
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    5,280
    SQFT
    $331
    $/SQFT
    1959
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    Built in 1959, this 8-unit property totals 5,280 SF located in Mid-City's Harvard Heights, between Normandie Ave & S Mariposa Ave, just south of Washington Blvd. The building features a unit mix of exclusively two-bed one-bath apartments. This offering presents an investor the opportunity to acquire a value-add asset with a 37% loss-to-lease and a pro forma CAPrate of 7.99% through renovations when the units turn. The property is being offered at a 14.18 GRM on current income and a low price per unit of $215,625.Furthermore, there are 8 parking spaces for the building secured by a gated entrance. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10 Freeway and transportation options within walking distance.
    Exterior Features

    Entry Location Ground Level - No Steps Exterior Construction Stucco Lot Size Area 6699 Other Structures None Parking Garage Driveway Roof Flat Total Parking 8

    Interior Features

    Baths Total 8.00 Cooling Ceiling Fan Equipment Ceiling FanDishwasherRefrigeratorRange/Oven Flooring Hardwood Heating None Laundry None

    Property Features

    Assessed Total Value 931998 Gross Income 121615 Gross Operating Income 115534 Like Units1 8 Net Operating Income 73317.00 Number Of Buildings 1 Number Of Units 8 Sale Type Standard Source Living Area Owner Source Lot Size Area Owner Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 42217 Type Of Units Apartments Water Heaters YN Yes Year Built Source Owner Zoning R3-1

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-02T09:42:57.96. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    TruLine Realty
    8644 Wilshire Blvd. Suite 204
    Beverly Hills CA, 90211