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Real 6.4% Cap Rate From Day 1 - Add 8 ADUs 2694 James M Wood Blvd 8 Unit Apartment Building $2,569,557 CAD ($321,195 CAD/Unit) 6.40% Cap Rate Los Angeles, CA 90006
INVESTMENT HIGHLIGHTS
- Strong Cash Flow: 8-unit building offers a solid 6.4% Cap Rate from day one, with potential to reach 8% on Proforma.
- Upgraded Units: 5 renovated units feature modern updates including new cabinets, flooring, kitchens, and bathrooms, along with exterior improvements.
- Development Potential: Approved RTI plans to add 8 detached ADUs in the back parking lot, positioning the property for significant future returns.
EXECUTIVE SUMMARY
3rd Price Reduction! 8-unit building cash flowing at a 6.4% Cap Rate from day 1 with upside to an 8% Cap on Proforma! Approved RTI plans to add 8 detached ADUs in the back parking lot to achieve an incredible 12% Current Cap Rate, 13.2% Proforma Cap, and only 158k/unit after taking into account all the construction costs (~680k assuming $250/SF). Large 6,770 SF R4 Lot with TOC Tier 3 designation for future development potential. 5 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, and more. Prime Koreatown location just minutes away from the Wilshire/Vermont Metro station as well as many hip neighborhood attractions, restaurants, bars, and shops such as The Line Hotel, Quarters KBBQ, Calic Bagels, H-Mart, Wi Spa, KURVE on Wilshire ($300M 644-unit luxury high-rise development) and many more.
PROPERTY FACTS
| Price | $2,569,557 CAD | Property Subtype | Apartment |
| Price Per Unit | $321,195 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.40% | Lot Size | 0.16 AC |
| Sale Condition | 1031 Exchange | Building Size | 4,399 SF |
| Gross Rent Multiplier | 10.72 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1906 |
| Property Type | Multifamily | Parking Ratio | 2.05/1,000 SF |
| Zoning | LAR4 - Multiple Dwelling | ||
| Price | $2,569,557 CAD |
| Price Per Unit | $321,195 CAD |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.72 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,399 SF |
| No. Stories | 2 |
| Year Built | 1906 |
| Parking Ratio | 2.05/1,000 SF |
| Zoning | LAR4 - Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Kitchen
- Oven
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | - | - |
| 1+1 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (81)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 5077-028-002 | Improvements Assessment | $221,026 CAD |
| Land Assessment | $1,326,157 CAD | Total Assessment | $1,547,183 CAD |
PROPERTY TAXES
Parcel Number
5077-028-002
Land Assessment
$1,326,157 CAD
Improvements Assessment
$221,026 CAD
Total Assessment
$1,547,183 CAD
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Real 6.4% Cap Rate From Day 1 - Add 8 ADUs | 2694 James M Wood Blvd
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