1144 Elden Ave
Los Angeles,
CA
90006
Property Details
List Price: |
$3,000,000 |
Beds: |
18 |
Baths: |
-- |
Status: |
Active |
SqFt: |
9758 |
Agency: |
Compass |
Description/Comments
Lot Size: |
-- |
Property Type: |
MultiFamily |
Year Built: |
1986 |
Notes: |
We are pleased to present 1144 Elden, a 12-unit property not subject to LA City rent control. Built in 1986, this property currently allows an annual rent increase of 8.8% (5% plus the Consumer Price Index). Please note, the property is located in an opportunity zone, offering the new owner a potential federal capital gains tax incentive (buyer to verify). Comprised of (6) 2-bdrm. and 1.5-bath units and (6) 1-bdrm. units, these units offer approx. 34% rental upside compared to renovated units in the area. Property amenities include on-grade gated parking and a laundry room. 1144 Elden is offered at $307 per foot, $250,000 per unit, 9.42 market GRM, and 7.19% market CAP. Located just south of Koreatown, near Olympic and Vermont, the property is surrounded by many multifamily and mixed-use projects currently under construction or recently completed. Across the street from the subject property is a Grubb Properties project spanning a city block, featuring 228 units and 50,000 SF of commercial space (ground floor leased by Target). |
MlsNumber: |
23-293115 |
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Listing Provided By: |
Compass, original listing |
Name: |
Compass |
Office Name: |
Compass |
Office Phone: |
(310) 230-5478 |
Agent Name: |
Kenny Stevens |
Disclaimer: |
Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |