1139 68Th StLos Angeles, CA 90001

This exceptional 10-unit apartment building, located at 1139 E 68th St, Los Angeles, CA 90001, presents a compelling value-add investment opportunity. The single-story, 3,096 square foot building, constructed in 1927, sits on a 4,997 square foot lot and is zoned LCR3. Currently boasting a 4.84% cap rate and $53,236 NOI, the property offers significant upside potential. The pro-forma cap rate is projected at 10.30%, with a pro-forma NOI of $113,309. The asking price is $1,100,000, or $110,000 per unit. Recent improvements include a new roof, copper plumbing, a new sewer line, and exterior paint. The unit mix consists of ten studio apartments, with two currently vacant, presenting immediate rental income growth opportunities. The property's strategic location near the 110 and 105 freeways, and proximity to public transportation, ensures strong tenant demand within a dense rental market. This property is a rare find in Los Angeles, offering a blend of solid current income and substantial future growth potential. The property's location in Los Angeles County provides access to a large pool of potential renters. This is a fantastic opportunity for an investor seeking a value-add multifamily property in a high-demand area.