843 Ardmore AveLos Angeles, CA 90005
- Apartment buildings
- 13,095 SF
Property Details for 843 Ardmore Ave
- Year built
- 1989
- Construction
- WOOD
- Lot size
- 0.16 AC
- Property size (Sq ft)
- 13,095 SF
- Zone code
- LAR4
- Property type
- Apartment buildings
- APN
- 5093-024-019
- APU
- 5093024019
Description
This exceptional 15-unit apartment building presents a compelling investment opportunity in the desirable Los Angeles, CA market. Located at 843 S Ardmore Ave, 90005, this three-story building, constructed in 1989, boasts 13,095 square feet on a 6,762 square foot lot. The property features a convenient subterranean parking garage with 16 spaces, an elevator servicing all floors, and a central hallway plan. Each of the 15 units is equipped with its own hot water heater and wall unit heating and air conditioning. Resident amenities include leased laundry machines on each floor and an AT&T entry system. The building is also conveniently serviced by Spectrum internet. The property is zoned LAR4 and benefits from its proximity to Wilshire Boulevard, a prime location offering strong rental demand and potential for rental increases. The building's well-maintained condition and desirable features make it an attractive investment with a 5.10% cap rate and an asking price of $4,200,000. This is a solid, no-frills building in a strong rental area, presenting a promising return on investment.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $4,704,738
- 6.5%
- $4,342,834
- 7%
- $4,032,632
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,859,725
- Geo Method
- $3,859,725
-
Alternative Use
- Use
- Valuation
- Residential
- $4,342,834
- Hospitality
- $3,978,013
- Educational
- $3,309,660
- Medical
- $3,423,484
- Retail
- $5,148,360
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0566
- Longitude
- -118.302
- 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
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].