1072 Leonard Ave 6 Unit Apartment Building $1,605,178 CAD ($267,530 CAD/Unit) 6.47% Cap Rate Los Angeles, CA 90022

1072 Leonard Ave presents an excellent opportunity to acquire a well-located six-unit multifamily property in the heart of East Los Angeles. The property features a desirable unit mix consisting of (1) Studio, (4) 1-bedroom/1-bath units, and (1) 2-bedroom/1-bath unit, currently collecting $10,196.73 in monthly rent.
Situated on a large 7,007 square foot lot, the property comes with approved plans for (2) 1-Bed/1-Bath ADUs, allowing an investor to start construction immediately. After construction, the property is projects a 8.18% Cap Rate (After factoring in Construction costs). Currently operating at a 6.47% cap rate and 9.64 GRM, the property provides stable in-place income with upside potential for an investor looking to grow rents over time.
East Los Angeles is a quickly growing neighborhood in Los Angeles adjacent to Downtown Los Angeles. A vibrant and culturally diverse neighborhood known for its rich history, tight-knit community, and eclectic mix of cuisines, thriving local businesses, and a vibrant arts scene. With a close proximity to the train line stop and walking distance to Hollenbeck Park, and restaurants, bars and nightlife.