For Sale
$1,150,000

1719 Miramar StLos Angeles, CA 90026

4-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 4-unit apartment building in Los Angeles, CA presents a compelling investment opportunity. Located at 1719 Miramar St, 90026, this property boasts 3,540 square feet of rentable space situated on a 4,200 square foot lot. The building, constructed in 1910, has undergone significant improvements, including recent termite treatment, a new roof, updated copper plumbing, and a new ABS main line. Each of the four units, a mix of two-bedroom/one-bathroom and three-bedroom/one-bathroom configurations, benefits from individual meters. Ample rear parking is available for residents. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $60,274, yielding a 5.24% cap rate. However, a pro-forma analysis reveals a significant upside potential, projecting a NOI of $78,697 and a 6.84% cap rate based on a 21% rental increase. The asking price is $1,150,000, translating to $325 per square foot and $287,500 per unit. The property is zoned Lar3 and features the APN 5153-002-024. This well-maintained building offers immediate cash flow and substantial long-term growth potential in a desirable Los Angeles location. The combination of recent upgrades, strong current performance, and significant upside potential makes this a truly attractive investment.

Highlights

  • $1,150,000 asking price for a 4-unit apartment building in Los Angeles, CA.
  • 3,540 square feet on a 4,200 square foot lot.
  • 5.24% cap rate, 6.84% pro-forma cap rate.
  • $60,274 current NOI, $78,697 pro-forma NOI.
  • 100% occupancy.
  • Built in 1910, recently renovated with new roof, copper plumbing, and ABS main line.

Property Details for 1719 Miramar St

Property type
Apartment buildings
Square Feet
3,540 SF
Year Built
1910
Units
4

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.061907842066
Longitude
-118.26814737134
1719 Miramar St, Los Angeles, California

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1719 Miramar St
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