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940 New Depot StLos Angeles, CA 90012

Renovated Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This stabilized, 7-unit apartment building in Los Angeles' vibrant Echo Park neighborhood presents a compelling investment opportunity. Built in 1983 and extensively renovated in 2015, the property boasts 6,060 square feet of net rentable space across three stories, achieving 100% occupancy as of February 29, 2024. Each of the seven units features modern amenities including laminate flooring, granite countertops, updated kitchens and appliances, and fresh paint. The property sits on a 0.14-acre lot and includes 8 parking spaces. Its prime location in the LAR4 zoned area places it steps from major developments like the "Sunset/Everett" and "The Metropolitan Water District Project," promising future growth and increased property value. The strong NOI of $181,040 further underscores the property's financial stability. Conveniently located near various amenities including restaurants, shops, and Dodger Stadium, and with easy freeway access, this property offers a blend of immediate income and long-term potential. An attractive existing loan may be assumable, subject to conditions. The property's address is 940 New Depot St, Los Angeles, CA 90012, APN 5406-029-002.

Highlights

  • Assumable loan available, subject to lender approval.

Property Details for 940 New Depot St

Property type
Apartment buildings
Square Feet
6,060 SF
Class
B
Year Built/Renovated
1983/2015
Buildings
1
Stories
3
Lot Size (sq. ft)
6,098 SF
Units
7

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.065860493803
Longitude
-118.24598798904
940 New Depot St, Los Angeles, California

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940 New Depot St
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