For Sale
$3,650,000

4215 Kansas AveLos Angeles, CA 90037

23-unit building near Expo Park

Overview

Added:
Dec 11, 2024
Days on market:
115
This 2-story, 9,550-square-foot apartment building at 4215 S Kansas Ave, Los Angeles, CA 90037, offers a compelling investment opportunity. Built in 1924, the property comprises 23 studio apartments and one one-bedroom unit, situated on a 6,665 sq ft lot (APN: 5020-021-004). Many units have been upgraded, and all feature separate gas and electric meters. On-site laundry adds convenience. The building benefits from a strong rental location, just half a mile from Expo Park and major attractions including the LA Memorial Coliseum, Lucas Museum, and BMO Stadium. USC and the Metro Expo line are within one mile. The current NOI is $175,626, with a pro-forma NOI of $244,161, representing a 4.81% cap rate and a pro-forma cap rate of 6.69%. The asking price is $3,650,000 ($158,695.65 per unit, $382.20 per square foot). Attractive assumable financing is available with a fixed rate of 3.71% until May 1, 2030, with a remaining balance of $1,268,411.93 (as of October 2024). Current rents offer a significant rental upside potential. The property is zoned LAR3.

Highlights

  • Partially renovated apartment building in a prime rental location near Expo Park.
  • Assumable financing at a favorable 3.71% fixed rate until May 2030.
  • Building features 24 units (23 studios, 1 one-bedroom/one-bath), controlled access, and on-site laundry.
  • Approximately two-thirds of units are renovated.
  • Significant rental upside potential (27%).
  • Excellent location west of the 110 Freeway, near Manual Arts High School, Expo Park, and USC.

Property Details for 4215 Kansas Ave

Property type
Apartment buildings
Square Feet
9,550 SF
Year Built
1924
Buildings
1
Stories
2
Units
23

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0068473
Longitude
-118.2940004
4215 Kansas Ave, Los Angeles, California

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4215 Kansas Ave
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