For Sale
$3,300,000

8443 Blackburn AveLos Angeles, CA 90048

West Hollywood multifamily investment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
114
This 10-unit apartment building, located at 8443 Blackburn Ave, Los Angeles, CA 90048, presents a compelling investment opportunity. Built in 1957 and totaling 8,596 rentable square feet on a 6,996 square foot lot, the property boasts a diverse unit mix of four two-bedroom, one-and-a-half-bathroom units and six one-bedroom, one-bathroom units. Six dedicated parking spaces are available for residents. Each unit features either window or wall AC units. Safety features include emergency shut-off valves. A significant upgrade was completed in 2018: a soft story retrofit, ensuring compliance with current safety standards and enhancing structural integrity. The property's location in the desirable West Hollywood neighborhood offers easy access to major thoroughfares, public transportation, and numerous amenities, including restaurants, shops, and entertainment venues. The strong rental demand in this area, combined with the property's recent improvements and desirable unit mix, makes this a highly attractive investment. The asking price is $3,300,000, with a current NOI of $132,848 and a pro-forma NOI of $219,439. The price per unit is $330,000, and the building features two stories. The current cap rate is 4.03%, with a pro-forma cap rate of 6.65%.

Highlights

  • 1957-built, 10-unit apartment building; 8,596 rentable sq ft on a 6,996 sq ft lot.
  • Four 2BD/1.5BA and six 1BD/1BA units.
  • Features emergency shut-off valves.
  • 2018 soft-story retrofit.
  • West Hollywood location.
  • Excellent access to major thoroughfares and public transportation.

Property Details for 8443 Blackburn Ave

Property type
Apartment buildings
Square Feet
8,596 SF
Year Built
1957
Buildings
1
Stories
2
Units
10

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0726795
Longitude
-118.3747431
8443 Blackburn Ave, Los Angeles, California

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8443 Blackburn Ave
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