For Sale
$1,590,000

2724 58Th StHuntington Park, CA 90255

8-Unit Value-Add Opportunity in CA

Overview

Added:
Dec 11, 2024
Days on market:
114
This 8-unit apartment building, located at 2724 E 58th St, Huntington Park, CA 90255, presents a compelling value-add investment opportunity. The property consists of two, two-story buildings totaling 5,654 square feet on a 6,513 square foot lot. Built in 1941, the property features eight 1-bedroom units, offering significant rental upside potential. Currently generating a net operating income (NOI) of $78,120, a pro-forma NOI of $135,977 is projected, resulting in a pro-forma capitalization rate of 8.55%. The asking price is $1,590,000, translating to $198,750 per unit and $281 per square foot. The property includes five parking spaces. This fee-simple ownership offers a strong return on investment in a desirable rental market. The property's Class C designation and current cap rate of 4.91% further highlight its potential for appreciation. The Los Angeles County location, with its robust rental demand, makes this a highly attractive investment prospect for those seeking to capitalize on market rents and increase profitability. The property's existing structure provides a solid foundation for future improvements and increased cash flow.

Highlights

  • $198,750 per unit.
  • $281 per square foot.
  • Significant rental upside potential due to long-term ownership.
  • 8.6% projected capitalization rate based on market rents.
  • Excellent rental location in Huntington Park, CA.
  • Five parking spaces.

Property Details for 2724 58Th St

Property type
Apartment buildings
Square Feet
5,654 SF
Class
C
Year Built
1941
Buildings
2
Stories
2
Units
8

Location Insight

City
Huntington Park
County
Los Angeles
State
California
Latitude
33.9900414
Longitude
-118.221827
2724 58Th St, Huntington Park, California

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2724 58Th St
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