1380 E 22nd Street,Los Angeles, CA 90011
Los Angeles, CA 90011
Description
We are proud to present 1380 E 22nd Street, a four-unit property located in the heart of Downtown Los Angeles priced at a 7.38% CAP on current rents. All units will be delivered with tenants in place. Located south of the 10 freeway and east of the 110 freeway, this property is located just minutes away from Downtown Los Angeles, Chinatown, to the Crypto.com Arena, The Convention Center, LAFC, The Coliseum, USC, Natural History Museum as well as a number of other tenant amenities and conveniences. The property consists of two separate duplexes comprising 2,610 rentable square feet built in 1927 which is situated on a 5,705 square foot lot with alley access. The unit mix consists of (1) three-bedroom one bath, (2) two-bedroom two-bath and (1) one-bedroom one bath unit. Priced attractively at a 7.38% CAP Rate and at 9.32X Gross on current rents, this opportunity presents 35% upside in rents to operate at a 10.87% CAP Rate and a 6.91 GRM at market. All units are tenant occupied with all units having been renovated except for the one bedroom. Contact the listing broker for additional information.
Details
| MLS# | 25510149 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1927 |
| Days On Site | 50 |
| Listing Provided By | Kidder Mathews of California, Inc. 858-369-3010 | Casey Lins |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 2,610 |
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 2 |
| Zoning | LAR4 |
| Acreage | 0.13 |
Market Activity 90011
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90011 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90011) | |
Price: $895,000 low | high Med: $777,500 SqFt: 2,610 low | high Med: 1,968 $ / SqFt: $343 low | high Med: $398 On site: 50 low | high Med: 67.000000 | |