8704 Central AveLos Angeles, CA 90002

Property Details for 8704 Central Ave

Year built

1955

Construction

WOOD

Lot size

0.11 AC

Property size (Sq ft)

4,894 SF

Zone code

LAC2

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

6043-002-015

APU

6043002015

Description

This exceptional investment opportunity presents two adjacent apartment buildings located at 8704 and 8708 S Central Ave, Los Angeles, CA 90002. The property comprises a total of ten units: two spacious two-bedroom apartments, eight well-designed one-bedroom apartments, and a studio unit. Each building boasts its own Assessor's Parcel Number (APN). Recent upgrades significantly enhance the property's value and appeal. These improvements include a fresh coat of paint, newly installed windows, and refreshed interiors in many units. Individual water heaters in several units provide modern convenience. A substantial investment exceeding $200,000 has been made in a seismic retrofit, ensuring compliance with Los Angeles city standards and enhancing the long-term value of the property. The exterior has undergone a complete upgrade, resulting in increased curb appeal and attracting high-quality tenants. The strategic location near public transportation, local amenities, and minutes from Downtown LA positions this property for strong rental growth. This multifamily complex offers a compelling return on investment, with projected cap rates of 6.4% and 5.2% for 8704 and 8708 S Central Ave respectively. A partial carryback financing option is available to facilitate a smooth acquisition process. This is a rare chance to acquire a well-maintained, high-demand multifamily property in a prime Los Angeles location. The asking price for this lucrative investment is $1,598,500.

• CAP approach

  CAP return

  Valuation

  6%

  $1,758,304

  6.5%

  $1,623,050

  7%

  $1,507,117

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,442,497

  Geo Method

  $1,442,497

• Alternative Use

  Use

  Valuation

  Residential

  $1,623,050

  Hospitality

  $1,486,705

  Educational

  $1,236,921

  Medical

  $1,279,460

  Retail

  $1,924,099

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.959

Longitude

-118.256

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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].