1962 W 22nd Street, Los Angeles, CA 90018
Property · 2 recorded sales since 2017
Sold April 2021
Listing Agent: Neema Ahadian (DRE #01346750) · Listing Office: Marcus & Millichap · Contact: 213-943-1800 · Bought with: Eliza Kerndian · Keller Williams Realty Westside · MLS #21683536 · Source: CRMLS
About this property
Built in 1964, this unique 8-unit property totals 5,866 SF located in Mid-City's Adams-Normandie neighborhood, between Normandie Ave & S Western Ave. The building features a unit mix that includes 2 one-bedroom and 6 two-bedroom two-bath apartments.This offering presents an investor the opportunity to capture a 76% overall increase in rent with a pro forma CAP rate of 9.01% through renovations when the units turn. The property is being offered at a 13.86 GRM on current income and a low price per unit of $196,250 and a low price per square foot of $267.64. The property features 8 parking spaces and the soft story retrofit work has been completed. Furthermore, there is a community laundry room for the building.Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year in this submarket with such close proximity to job and educational opportunities in Downtown Los Angeles, as well as the
Listing description from the April 2021 sale, as reported to CRMLS.
Sale history
