1212 76Th PlLos Angeles, CA 90001

Property Details for 1212 76Th Pl

Year built

1926

Lot size

0.12 AC

Property size (Sq ft)

4,650 SF

Zone code

LCR3*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

6024-012-003

APU

6024012003

Description

This 8-unit apartment building, located at 1212 E 76th Pl in Los Angeles, CA 90001, presents a compelling investment opportunity. Built in 1926, this two-story building offers 4,650 square feet of net rentable space on a 5,431 square-foot lot. The property currently boasts 6 occupied units, each a 1-bedroom, 1-bathroom apartment, with 2 vacant units. Individual water heaters and separate gas and electric meters for each unit provide cost control. The average rent for occupied units is $1,083 per month, offering significant upside potential. The property is zoned LCR3 and has a current NOI of $76,541, with a pro-forma NOI of $124,090, reflecting a 7.12% cap rate and a pro-forma cap rate of 11.54%. The asking price is $1,075,000, or $134,375 per unit. Conveniently situated near the 110 and 105 freeways, this property offers easy access to greater Los Angeles. Public transportation is also readily available. All building records and data should be independently verified by the buyer. This property is an excellent value-add opportunity for investors seeking to capitalize on the strong rental market in South Los Angeles.

• CAP approach

  CAP return

  Valuation

  6%

  $1,670,640

  6.5%

  $1,542,129

  7%

  $1,431,977

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,370,578

  Geo Method

  $1,370,578

• Alternative Use

  Use

  Valuation

  Residential

  $1,542,129

  Hospitality

  $1,412,582

  Educational

  $1,175,252

  Medical

  $1,215,670

  Retail

  $1,828,169

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9705

Longitude

-118.254

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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