845 82Nd StLos Angeles, CA 90044
- Apartment buildings
Property Details for 845 82Nd St
- Year built
- 1934
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 4-unit apartment building situated on a substantial 9,275 square foot lot in Los Angeles, CA (APN 6032-006-019). The property, built in 1934, consists of two single-story buildings and offers a compelling mix of unit sizes: one 2-bedroom/1.5-bath, one 2-bedroom/1-bath, and two 1-bedroom/1-bath units. Currently, three of the four units are vacant, presenting immediate value-add potential for a new owner. The property boasts a current Net Operating Income (NOI) of $55,664, yielding a 5.86% cap rate. However, a pro-forma NOI of $67,064 projects a 7.06% cap rate, highlighting the significant upside potential. The asking price is $950,000, translating to $237,500 per unit and a land value of $346.97 per square foot. The property is zoned LAR3, allowing for the construction of up to 12 units by right, with the possibility of adding an additional 9 units utilizing the Tier 3 bonus, for a total of 21 units. Five existing garage spaces offer potential for ADU development. This property is an ideal choice for investors seeking a value-add opportunity or a development project in a prime Los Angeles location at 845 W 82nd St, Los Angeles, CA 90044. The 2,738 square feet of net rentable space provides a solid foundation for future growth and income generation.
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 33.9643
- Longitude
- -118.289
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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