Description
1134 S Vancouver Ave, a well maintained 16-unit multifamily property with strong in place income located in East Los Angeles. Built in 1929, the subject property consists of (8) studios and (8) 1BD+Den/1BA units. The property has undergone extensive Capital Improvements which consist of new exterior paint, dual-pane white vinyl windows, LED lighting, copper plumbing with oversized ABS along with an electrical system that consists of panels, breakers and Romex wiring. All units were previously gutted down to the studs and repainted, and about half have been upgraded with new flooring, kitchen cabinets, tile and new bathrooms. Situated in East Los Angeles, 1134 S Vancouver offers convenient access to the 710, 60 and 5 freeways and is in close proximity to Downtown Los Angeles. The property is also located minutes away from Montebello County Club, Vincent Price Art Museum, East Los Angeles College, the Metro Gold Line Atlantic Station, the Citadel Outlet as well as several parks, restaurants, schools and shopping centers. The propertys strong in-place income and low expenses, with separate gas and electricity meters, offer an immediate CAP Rate of 5.13% and a GRM of 11.37 on actual income. With approximately 32% upside in income, this opportunity has the ability to operate at a CAP Rate of 7.74% and at a GRM of 8.62 at market. This asset makes for a stable, long-term investment and therefore a great addition to any investors portfolio.
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0BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
1134 S Vancouver Ave, a well maintained 16-unit multifamily property with strong in place income located in East Los Angeles. Built in 1929, the subject property consists of (8) studios and (8) 1BD+Den/1BA units. The property has undergone extensive Capital Improvements which consist of new exterior paint, dual-pane white vinyl windows, LED lighting, copper plumbing with oversized ABS along with an electrical system that consists of panels, breakers and Romex wiring. All units were previously gutted down to the studs and repainted, and about half have been upgraded with new flooring, kitchen cabinets, tile and new bathrooms. Situated in East Los Angeles, 1134 S Vancouver offers convenient access to the 710, 60 and 5 freeways and is in close proximity to Downtown Los Angeles. The property is also located minutes away from Montebello County Club, Vincent Price Art Museum, East Los Angeles College, the Metro Gold Line Atlantic Station, the Citadel Outlet as well as several parks, restaurants, schools and shopping centers. The propertys strong in-place income and low expenses, with separate gas and electricity meters, offer an immediate CAP Rate of 5.13% and a GRM of 11.37 on actual income. With approximately 32% upside in income, this opportunity has the ability to operate at a CAP Rate of 7.74% and at a GRM of 8.62 at market. This asset makes for a stable, long-term investment and therefore a great addition to any investors portfolio.
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T00:29:53.897. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.