For Sale
$1,695,000

2617 Halldale AveLos Angeles, CA 90018

Prime West Adams multifamily investment.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 9-unit apartment building in Los Angeles' desirable West Adams neighborhood presents a compelling investment opportunity. The property, built in 1904, boasts 4,724 square feet of living space situated on a substantial 7,402 square foot lot. The well-maintained building comprises a desirable unit mix including two 2-bedroom/1-bathroom units, four 1-bedroom/1-bathroom units, and three studio units. Currently generating a Net Operating Income (NOI) of $67,380, the property offers a 3.98% capitalization rate (Cap Rate) based on the asking price of $1,695,000. A pro-forma NOI of $141,201 indicates significant upside potential, reflecting a 71% rental upside. The property's location provides convenient access to Downtown Los Angeles, West Hollywood, Century City, and Culver City, contributing to its strong long-term appreciation potential. The price per unit is $188,333, and the current Gross Rent Multiplier (GRM) is 14.99. This property offers a rare combination of strong current income, significant upside potential, and a prime location in a thriving Los Angeles market. The address is 2617 S Halldale Ave, Los Angeles, CA 90018.

Highlights

  • Nine-unit multifamily property in West Adams.
  • Unit mix: two 2-bed/1-bath, four 1-bed/1-bath, and three studio units.
  • 3.98% cap rate, 14.99 GRM.
  • Significant upside potential: 71% rental upside, 8.33% market cap rate.
  • 4,724 square feet building on a 7,402 square foot lot.
  • Excellent West Adams location with easy access to Downtown LA, West Hollywood, Century City, and Culver City.

Property Details for 2617 Halldale Ave

Property type
Apartment buildings
Square Feet
4,724 SF
Year Built
1904
Buildings
1
Units
9

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0321417
Longitude
-118.3031775
2617 Halldale Ave, Los Angeles, California

FAQs

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].
2617 Halldale Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message