7,505 Sqft Lot
7,505 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25254734
HOA Y/N No
Year Built 1923
Lot Size 7,505 Sqft
Property Sub-Type Apartment
Property Description
Huntington Park is located within LA County's Southeast region just 7-miles outside of DTLA, centered between the 710-, 5-, and 110-freeways. The property is located within a 10-mile drive to major employment hubs like City of Vernon, City of Commerce, and DTLA. Locally, tenants enjoy being just steps from Pacific Blvd – Huntington Park's heaviest retail corridor providing access to a variety of retailers, convenience stores, and places to dine. Tenants also enjoy convenient access to big name retailers within a 3-mile drive like Target, Home Depot, Northgate Market, and Several Local Parks and Schools.
The property offers 7 single-story, ground-level apartments, consisting of 4, 1-Bedroom and 3, 2-Bedroom units. The property sits on a 7,500+ SF lot and, in addition to housing, offers on-site garage parking and a community laundry room – all income generating attributes that are sparce for tenants in the area.
The property currently generates over +/-$150,000 in rental income, with an additional +/-$5,400 of revenue via rentable garages and a shared laundry facility. With a total annual revenue of +/-$155,880, a new investor will benefit from the current 6.42% CAP Rate and 10.81 GRM. A new investor also has the rare opportunity to assume the existing debt of +/-$983,000 at a below market interest rate of 3.45%, which is fixed until mid-2029. The deal boasts an impressive in-place 7.91% Cash-on-Cash return with the assumption of the current debt.
Location
State CA
County Los Angeles
Area T1 - Vernon, Maywood, Hunt Pk & Bell, N Of Florenc
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking, Curbs, Gutter(s), Street Lights, Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 6320019004
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
