4215 Kansas AveLos Angeles, CA 90037

  • Residential income properties
  • 9,550 SF
For Sale
$3,650,000 View listing

Property Details for 4215 Kansas Ave

Year built
1924
Construction
WOOD
Lot size
0.15 AC
Property size (Sq ft)
9,550 SF
Zone code
LAR3
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
5020-021-004
APU
5020021004

Description

This 2-story, 9,550-square-foot apartment building at 4215 S Kansas Ave, Los Angeles, CA 90037, offers a compelling investment opportunity. Built in 1924, the property comprises 23 studio apartments and one one-bedroom unit, situated on a 6,665 sq ft lot (APN: 5020-021-004). Many units have been upgraded, and all feature separate gas and electric meters. On-site laundry adds convenience. The building benefits from a strong rental location, just half a mile from Expo Park and major attractions including the LA Memorial Coliseum, Lucas Museum, and BMO Stadium. USC and the Metro Expo line are within one mile. The current NOI is $175,626, with a pro-forma NOI of $244,161, representing a 4.81% cap rate and a pro-forma cap rate of 6.69%. The asking price is $3,650,000 ($158,695.65 per unit, $382.20 per square foot). Attractive assumable financing is available with a fixed rate of 3.71% until May 1, 2030, with a remaining balance of $1,268,411.93 (as of October 2024). Current rents offer a significant rental upside potential. The property is zoned LAR3.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,431,099
    6.5%
    $3,167,168
    7%
    $2,940,942
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,814,844
    Geo Method
    $2,814,844
  • Alternative Use

    Use
    Valuation
    Residential
    $3,167,168
    Hospitality
    $2,901,109
    Educational
    $2,413,689
    Medical
    $2,496,699
    Retail
    $3,754,627
4215 Kansas Ave, Los Angeles, California

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0069
Longitude
-118.294
CBSA code
31080
CBSA name
LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$30,888
$974,889
$1,465,576
$2,440,465
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