0.31 Acres Lot
0.31 Acres Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26043366
HOA Y/N No
Year Built 1964
Lot Size 0.313 Acres
Property Sub-Type Apartment
Property Description
Turn-Key Renovated Asset with Significant Capital Improvements: This 36-unit apartment building underwent a comprehensive renovation in 2018, with over $500,000 in completed upgrades. The renovation included new plumbing, electrical systems, drywall, paint, flooring, and cabinetry, offering a modernized, turn-key investment for savvy investors.
Proven "Micro Unit" Model Maximizing High PSF Rental Yield: Comprised primarily of studio units (91% of the unit mix), the property utilizes a high-efficiency micro-unit model that is easier to rent in the Los Angeles market. This design yields an impressive actual rent of $5.40 per square foot—with some units reaching as high as $6.67 PSF—justifying the asset's valuation through proven rental performance.
Substantial Built-in Value Add via ADU Potential: The property offers an unparalleled opportunity to capitalize on the city's Accessory Dwelling Unit (ADU) ordinance. Investors can potentially add 9+ units in the existing parking areas, significantly increasing the total unit count and exponentially growing the property's longterm asset value.
Exceptional Current Yield and Financial Stability: Offered at $4,950,000, the asset delivers a strong current CAP rate of 8.03% and a 9.99% Cash-on-Cash return. Maintaining a robust 95% occupancy rate, the property acts as a "cash flow machine," providing immediate and reliable Net Operating Income of $397,612.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning C2-1VL-CPIO
Interior
Interior Features Balcony, Ceiling Fan(s), Granite Counters, Multiple Staircases, Wired for Data
Heating Electric
Cooling Wall/Window Unit(s)
Flooring Tile
Fireplaces Type None
Fireplace No
Appliance Electric Cooktop, Exhaust Fan, Microwave, Refrigerator, Water Heater
Laundry None
Exterior
Parking Features Carport
Fence Wrought Iron
Pool None
Community Features Curbs, Street Lights, Sidewalks, Urban, Gated
Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Connected
View Y/N Yes
View City Lights, Neighborhood
Total Parking Spaces 23
Private Pool No
Building
Lot Description Corner Lot, Level, Over 40 Units/Acre, Near Public Transit, Rectangular Lot, Street Level
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5049001045
Security Features Closed Circuit Camera(s),Carbon Monoxide Detector(s),Security Gate,Gated Community,Resident Manager,Smoke Detector(s)
Energy Description 3942.0
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Lease Land No
22502 Avenida Empresa, Rancho Santa Margarita, California, 92688, USA