9526 Firth Blvd 9 Unit Apartment Building $1,840,359 CAD ($204,484 CAD/Unit) 6% Cap Rate Los Angeles, CA 90002

ASSET
9-unit apartment located in Los Angeles. The property is comprised of (one) 4-bedroom/2-bathroom house and (four) 2-bedroom/1-bathroom units and (four) 1-bedroom/1-bathroom units.Situated on a large 9,999-SF lot, the property is zoned LAR3 with a Tier 3 TOC (Transit Orient Communities), which allows for the development of up to 22 units*. Given the TO3 Tier 3 allowance, subterranean parking is not required, and a developer is only responsible for 0.5 parking spaces per unit. The large lot presents an outstanding opportunity to develop up to 22 units* or to add ADUs in a dense rental market of Los Angeles.
LOCATION
This 5,874-SF apartment is located approximately 5 miles from SoFi Stadium and Intuit Dome (NBA Clippers Arena) and approximately 5.5 miles from Downtown Los Angeles and the University of Southern California (USC). The asset is located just a few blocks from Century Boulevard and Central Avenue, which provides tenants with an abundance of retail shops, restaurants, entertainment, and grocery stores.
FINANCIALS
Offered at an 11.85% pro-forma cap rate and 6.20 pro-forma GRM, 9526 Firth Avenue has rents which are +/- 60% below market. The asset also contains stable in-place rents with a current cap rate of 6.00% and current GRM of 9.92. The property is being offered at $147,222 per unit and $226 per square foot.

*Please do not disturb tenants. Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property.