4215 Kansas AveLos Angeles, CA 90037

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

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,878,840

  6.5%

  $3,580,470

  7%

  $3,324,720

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,124,750

  Geo Method

  $2,124,750

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,990,460

  Retail / Commercial

  $3,014,830

  Mixed-Use / Specialty

  $2,959,130

  Hospitality / Lodging

  $2,112,490

  Office

  $2,894,720

  Institutional / Educational

  $3,060,230

  Multifamily

  $4,543,450

  Automotive / Energy

  $2,623,060

  Parking / Income-Based Land

  $949,599

  Restaurant / Food Service

  $1,443,120

  Healthcare / Senior Housing

  $3,080,630

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

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