For Sale
$7,100,000

520 120Th StLos Angeles, CA 90044

50-Unit Multifamily, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 50-unit apartment building, located at 520-536 W 120th St, Los Angeles, CA 90044, presents a compelling investment opportunity. The property boasts 25,550 square feet on three contiguous lots totaling nearly 40,000 square feet, offering significant potential for future development or expansion. Built in 1956, the building features assigned parking for all 50 units. The current asking price is $7,100,000, translating to an attractive price per unit of $142,000. The property enjoys a current NOI of $375,149, resulting in a 5.28% cap rate. A pro-forma cap rate of 14.97% indicates substantial upside potential for rental income. The property is zoned LAR3 and sits on a large lot (39,955 sq ft), offering flexibility for future plans. Its convenient location near the 110 and 105 freeways provides easy access to major transportation routes. The property's strong cash flow and significant upside potential make it an ideal addition to any investment portfolio. APN: 6117-003-004

Highlights

  • Highly Motivated Seller - $142,000 Per Unit!
  • Exceptional Value - 0.71 GRM on Current Income, 4.89 Proforma GRM
  • Significant Portfolio - 50 Units on ~40,000 SF Across 3 Contiguous Parcels
  • Ample Parking - Assigned Parking for All Units
  • High Rental Growth Potential
  • Prime Freeway Access - Near 110 & 105 Freeways

Property Details for 520 120Th St

Property type
Apartment buildings
Square Feet
25,550 SF
Year Built
1956
Units
50

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
33.9234238
Longitude
-118.2840387
520 120Th St, Los Angeles, California

FAQs

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520 120Th St
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