This 11-unit apartment building at 716 W. 81st St., Los Angeles, CA 90044, presents a compelling value-add opportunity. The property, built in 1960, boasts 7,795 square feet of net rentable space, currently generating a NOI of $128,698, representing a 6.44% cap rate. A pro-forma NOI of $187,714 projects a 9.39% cap rate, highlighting significant upside potential. The asking price is $1,999,000, or $181,727 per unit, and the price per square foot is $256.45. The unit mix includes seven two-bedroom/one-bathroom units and four one-bedroom/one-bathroom units. Conveniently located between Manchester and Florence, Hoover and the 110 freeway, the property features carports in the front and rear. Currently, one unit is vacant, and the manager's unit is without a lease or management agreement, offering immediate flexibility for a new owner. Two additional units could potentially achieve market rents shortly after closing. Scheduled monthly rent is $16,000, while pro-forma rent is projected at $22,000 or more per month. This property is ideal for a first-time investor or an experienced owner looking to expand their portfolio. The property's location in Los Angeles County, with its APN 6032-023-007, offers strong potential for rental income growth. This is a rare opportunity, as the property has not been on the market for several decades.
Highlights
11-unit apartment building in Los Angeles, CA (APN 6032-023-007) with 7,795 square feet of net rentable space.
Currently generating $128,698 NOI (6.44% cap rate), with pro-forma NOI of $187,714 (9.39% cap rate).
Asking price: $1,999,000 ($181,727 per unit, $256.45 per square foot).
Unit mix: seven 2bd/1ba, four 1bd/1ba; one vacant unit, manager's unit available.
Located near major freeways and with front and rear carports; potential for immediate rent increases.
How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Contacts
Brice W. Head, MBA
PATRICK KING
Visit Broker Website
Learn more
Useful Information
Request information
716 81St St, Los Angeles, California, 90044
Message sent successfully
Error
Email this Information
Message sent successfully
Error
Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
716 81St St
Sign Up
Already a member?
Just one more step, let’s verify your email
We have sent a verification link to
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.