10611 S Central, Los Angeles, CA 90002
Property Highlights
Property Details
Overview
- Address: 10611 S Central Avenue, South Los Angeles, CA
- Property Type: Multifamily Apartment Building
- Total Units: 12
- Unit Mix: All 2-Bedroom, 1-Bathroom Units
- Occupancy Rate: 92% (with 2 units currently vacant)
Financial Highlights
Investing in the multifamily sector can be one of the most lucrative ventures, and this property exemplifies that potential. Here are the key financial metrics that make this investment particularly appealing:
- Price Per Unit: $258,333
- Price Per Square Foot: $440.34
- Current Cap Rate: 7.07%
- Gross Rent Multiplier (GRM): 9.83
- Potential Rental Upside: 39%
- Projected Stabilized Cap Rate: 10.53%
- Projected Stabilized GRM: 7.05
These figures not only indicate a strong immediate return but also highlight the significant upside available for the next owner.
Investment Highlights
Strong Immediate Income
The property boasts robust cash flow, making it an ideal choice for investors looking for immediate returns. The current occupancy rate of 92% ensures that most of the units are generating income. With only two vacancies, new owners can quickly enhance revenue by leasing these units, allowing for immediate cash flow.
Turnkey Condition
Having 92% of the building turned and renovated, the asset is in a turnkey condition. This means minimal additional investment is required before the property can start generating income. The extensive renovations not only improve the building's aesthetics but also make it more attractive to potential tenants, which can further enhance rental income.
Vacancy Potential
With two units currently vacant, new owners have the opportunity to realize an immediate revenue boost. Filling these vacancies allows for quick stabilization of cash flow and maximizes overall returns.
Location Benefits
Thriving Neighborhood
Situated in South Los Angeles, this property benefits from a vibrant and diverse community. The neighborhood is undergoing significant revitalization, making it a prime area for real estate investment. Residents enjoy a blend of cultural experiences, dining options, and recreational activities, adding to the overall appeal of the location.
Local Amenities
The property is conveniently located near shopping centers, parks, and public transportation, enhancing its attractiveness to potential tenants. Easy access to essential services and entertainment options increases the likelihood of quick lease-ups, contributing to a stable and growing tenant base.
Transportation Access
Proximity to major transportation routes and public transit options makes commuting easy for residents. This accessibility is crucial in Los Angeles, where mobility can significantly impact a tenant's choice of residence.
Market Insights
Growth Potential
The South Los Angeles area is experiencing significant development and revitalization, making it an opportune time for investment. As more businesses and services move into the area, demand for quality rental properties continues to rise. This trend indicates that investing now can yield substantial long-term returns.
Rising Rental Demand
The demand for multifamily properties in Los Angeles is consistently high, driven by a growing population and a limited housing supply. This investment not only offers immediate cash flow but also positions investors well for future appreciation as the area continues to develop.
About the Broker
Taylor Avakian
- Title: Founder of The Group CRE, First Vice President at Lyon Stahl
- Expertise: With extensive knowledge of the Los Angeles real estate market, Taylor brings a wealth of experience to the table. His proven track record in multifamily investments positions him as a trusted advisor for potential buyers.
This is an exceptional opportunity to invest in a well-performing 12-unit apartment building in a prime Los Angeles location. Don’t miss your chance to secure this asset and maximize your investment in one of the most dynamic real estate markets in the country!