1776 Rimpau BlvdLos Angeles, CA 90019
38-unit value-add opportunity in Los Angeles
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 113
Highlights
- 38-unit apartment building in desirable Mid-City Los Angeles, offering a value-add opportunity.
- $8.5M asking price, representing a $278.79/SF and $223,684.21 per unit cost. Current NOI of $376,373, pro-forma NOI of $664,742, resulting in a 4.43% cap rate and a pro-forma cap rate of 7.82%.
- Completed soft-story parking retrofit, saving buyer significant capital and time. 1.18:1 parking ratio and on-site laundry.
- Prime location near Country Club Park, Lafayette Square, and Miracle Mile, benefiting from spillover demand and rent growth potential. Zoned LARD1.5.
- Potential for adding Accessory Dwelling Units (ADUs) to increase future value. Building features 32 one-bedroom, five two-bedroom, and one three-bedroom units.
Property Details for 1776 Rimpau Blvd
- Property type
- Apartment buildings
- Square Feet
- 30,489 SF
- Year Built
- 1962
- Buildings
- 1
- Stories
- 2
- Units
- 38
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.043304555956
- Longitude
- -118.34178073972
Nearby Similar for Sale
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