$4,500,000
Unknown
Los Angeles, CA 90047
52
Beds
26
Baths
16,928
Sq. Ft.
1950
Year Built
Los Angeles
County
ResidentialIncome
Property Type
About this home
We are excited to present the Van Ness-Century Complex. Located at 2111-2155 West Century and 9920-24 S Van Ness this residential compound consists of 26 - 2 Bedroom units on almost an acre of land. Units are comprised of 3(2+1) units and a billboard at the Van Ness address. The Century address consists of 23 (2+1) units. The apartments were built in 1950, contain 16,928 square feet and are made of wood-frame stucco construction. They are located on a large corner lot of 39,111 square feet, which is zoned LAC2-1. The scheduled gross income on the property is $480,477 and the estimated Net Operating Income is $310,800. Based on the attractive price of $4,500,000, the GRM is 9.3 and the CAP rate is 6.9. At that price, the Cost Per Unit is $173,077. Market rent would generate an income of $660,000, providing a 10.9% CAP Rate and a GRM of 6.68. So, long term, this investment will provide a tremendous return. With 35% down, the investment would produce a cash-on-cash return of 5.65%, day 1.
Property Details
Architecture
Features & Amenities
Property Features
Community
Tax & Financial
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Mortgage Estimate
$23,951/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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