3066 15Th StLos Angeles, CA 90019
- Residential income properties
- 14,407 SF
Property Details for 3066 15Th St
- Year built
- 1964
- Construction
- WOOD
- Lot size
- 0.33 AC
- Property size (Sq ft)
- 14,407 SF
- Zone code
- LAR3
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 5073-003-001
- APU
- 5073003001
Description
This exceptional 22-unit apartment building presents a compelling investment opportunity in Los Angeles' desirable Arlington Heights neighborhood. Built in 1964, the property boasts 14,407 square feet on a 14,587 square foot corner lot zoned LAR3. The building offers a desirable unit mix, primarily two-bedroom apartments, with significant potential for rent increases, representing approximately 54% upside. Located at 3066 W 15th St, Los Angeles, CA 90019, this property benefits from its strategic location near Mid-City and Koreatown, providing easy access to major freeways (including the 10 FWY), public transportation, and a vibrant array of restaurants, bars, and cultural attractions. The asking price is $4,615,000, translating to $225,000 per unit and $343.58 per square foot. The property's 4.00% cap rate further underscores its strong investment potential. This well-positioned asset offers a rare chance to acquire a substantial property in a high-demand, growth submarket with considerable repositioning opportunities and impressive street frontage. The property's central location within Los Angeles ensures convenient access to key employment centers throughout the wider region.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $5,176,110
- 6.5%
- $4,777,948
- 7%
- $4,436,666
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,246,434
- Geo Method
- $4,246,434
-
Alternative Use
- Use
- Valuation
- Residential
- $4,777,948
- Hospitality
- $4,376,574
- Educational
- $3,641,258
- Medical
- $3,766,487
- Retail
- $5,664,180
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0451
- Longitude
- -118.315
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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