6524 Central AveLos Angeles, CA 90001

Property Details for 6524 Central Ave

Year built

1936

Construction

WOOD

Lot size

0.09 AC

Property size (Sq ft)

4,000 SF

Zone code

LCM1*

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

6010-003-005

APU

6010003005

Description

This 11-unit apartment building, located at 6524 S Central Ave, Los Angeles, CA 90001, presents a compelling value-add opportunity. The property, built in 1936 and renovated in 2000, comprises 4,000 square feet on a 4,043 square foot lot. The two-story building features nine upstairs and two downstairs units. The property's classification is C. Multiple metered utilities allow for separate charging of services. According to the Los Angeles Planning Department, the lot's high density allows for expansion up to 14 units. The Florence-Firestone area is designated a Transit Oriented District (TOD) under a Specific Plan adopted September 3, 2019, suggesting significant future development potential. Potential funding may be available through the Los Angeles County Development Authority (LACDA) via Notice of Funding Availability (NOFA) programs for affordable housing rehabilitation. Prospective buyers are responsible for conducting all necessary inspections and verifying all information. Private financing options are available. The asking price is $888,888. All information is provided without warranty.

• CAP approach

  CAP return

  Valuation

  6%

  $1,158,959

  6.5%

  $1,069,809

  7%

  $993,394

• Comparable approach

  Method

  Valuation

  Relative Method

  $760,640

  Geo Method

  $760,640

• Alternative Use

  Use

  Valuation

  Residential

  $1,326,563

  Hospitality

  $1,215,124

  Educational

  $1,010,969

  Medical

  $1,045,738

  Retail

  $1,572,619

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9802

Longitude

-118.256

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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