127 88Th StLos Angeles, CA 90003

Property Details for 127 88Th St

Year built

2024

Property size (Sq ft)

11,000 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a brand-new, 10-unit apartment building located at 127 E 88th Street, Los Angeles, CA 90003. The property boasts 11,000 square feet of net rentable space situated on a 10,409 square foot lot. Completed in 2024, this two-building complex features three stories and offers a mix of eight four-bedroom/two-bathroom units and two studio units (currently unpermitted and non-conforming). Each unit includes one designated parking space, totaling ten parking spots. The property is zoned LAR3 and is exempt from Los Angeles City Rent Control, providing significant upside potential. With a current asking price of $3,900,000 ($390,000 per unit), this property offers a pro-forma cap rate of 8.63% and a pro-forma NOI of $336,529. The building is currently vacant, allowing a new owner to establish their own tenant base. Its convenient location near the 110 Freeway provides easy access to Downtown Los Angeles and Downtown Long Beach, making it highly attractive to renters. A Certificate of Occupancy is expected within 30 days. This is a rare chance to acquire a premium, newly constructed multifamily asset in a thriving Los Angeles submarket. The property's strong financials and desirable location make it an ideal investment for discerning buyers seeking immediate cash flow and long-term appreciation.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9573

Longitude

-118.273

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