940 New Depot StLos Angeles, CA 90012
- Residential income properties
- 6,060 SF
Property Details for 940 New Depot St
- Year built
- 1983
- Construction
- WOOD
- Lot size
- 0.14 AC
- Property size (Sq ft)
- 6,060 SF
- Zone code
- LAR4
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 5406-029-002
- APU
- 5406029002
Description
This stabilized, 7-unit apartment building in Los Angeles' vibrant Echo Park neighborhood presents a compelling investment opportunity. Built in 1983 and extensively renovated in 2015, the property boasts 6,060 square feet of net rentable space across three stories, achieving 100% occupancy as of February 29, 2024. Each of the seven units features modern amenities including laminate flooring, granite countertops, updated kitchens and appliances, and fresh paint. The property sits on a 0.14-acre lot and includes 8 parking spaces. Its prime location in the LAR4 zoned area places it steps from major developments like the "Sunset/Everett" and "The Metropolitan Water District Project," promising future growth and increased property value. The strong NOI of $181,040 further underscores the property's financial stability. Conveniently located near various amenities including restaurants, shops, and Dodger Stadium, and with easy freeway access, this property offers a blend of immediate income and long-term potential. An attractive existing loan may be assumable, subject to conditions. The property's address is 940 New Depot St, Los Angeles, CA 90012, APN 5406-029-002.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,216,426
- 6.5%
- $2,045,932
- 7%
- $1,899,794
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,786,173
- Geo Method
- $1,786,173
-
Alternative Use
- Use
- Valuation
- Residential
- $2,045,932
- Hospitality
- $1,874,063
- Educational
- $1,559,198
- Medical
- $1,612,821
- Retail
- $2,425,420
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.0656
- Longitude
- -118.246
- 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
Similar Nearby for Lease
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].