1445 N Avenue 47 Los Angeles, CA 90042

These 22 apartment units are an incredible investment opportunity cash flowing at a remarkable Current Cap Rate of 5.5% and 12.9 GRM from day one. Priced attractively at only $317k/door for fully renovated units, this property offers a significant upside potential to achieve an impressive 7.3% Cap R...ate and 10.3 GRM on the proforma. This is a rare and excellent opportunity to acquire a turnkey apartment building with value-add potential in one of LA's hottest neighborhoods, Highland Park. The property features 14 fully renovated units with permits consisting of 8 units and 4 brand-new attached ADUs. Additionally, the parking soft-story retrofit has already been completed and all units are individually metered for gas and electricity, ensuring maximum efficiency in operation costs. The property features a diverse unit mix of 2 (2 bed/2 bath), 2 (2 bed/1 bath), and 18 (1 bed/1 bath) units. 14 units have been completely renovated with permits (1 vacant) and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Notably, there are Preliminary Plans for 2 additional Detached ADUs over the open parking lot in the back that offer exceptional future upside potential. The p Continue reading