1237 W 93rd Street, Los Angeles, CA 90044
Property · 2 recorded sales since 2022
Sold March 2024
Listing Agent: Olga Wright (DRE #01315042) · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 3108017373 · Bought with: Cameron Samimi · Lyon Stahl Investment Real Estate, Inc. · MLS #SB23181553 · Source: CRMLS
About this property
Introducing the rare investment opportunity of 1237 W 93rd St, nestled in the heart of Unincorporated Los Angeles County. This asset is a value add 6-Unit Apartment comprised of (6) 1-Bed/1-Bath Units with RTI plans for (1) additional 1-Bed/1-Bath ADU. This 6+1 RTI unit building is located in a rapidly growing submarket of Los Angeles with plenty of value for an investor looking to increase the value. Going in at an attractive 5.44% Cap rate with 63% in Rental upside stabilizing at a 10.20% cap rate even before starting the ADUs! With RTI plans for an ADU, the buyer can begin adding value immediately and take advantage of this 12,220 Square foot lot. After the construction of the ADU, the cap rate jumps to 6.46% (Including estimated construction Costs). Located in an unincorporated area of Los Angeles County and NOT in Los Angeles city, the subject property is steps from the new recreational development at 5800 Figueroa, as well as new apartment developments in the area.
Listing description from the March 2024 sale, as reported to CRMLS.
Sale history
