1421 W. 35th Place:

Incredible Triplex Apartment Opportunity near USC. Great Cash Flow. Vacant Lot in Rear for future Development!

For all showings please email us at: [email protected] 

1421 W. 35th Place: CLICK HERE FOR OFFERING MEMORANDUM

MAKE BEST OFFER SOON! SELLER IS LOCAL, AND WANTS TO REVIEW ALL WRITTEN OFFERS. Well-maintained bread-and-butter 3-Unit apartment building that generates $88,200 annually. Even better than the 4.9 cap rate is the potential upside on this LAR4 zoned lot. Un-tapped space in rear of almost 2,000 sq. ft rectangular footprint - could build multiple units in rear without disturbing existing dwelling.  There are recent examples already in the area around USC (see case studies in MLS picture gallery). 

All current units have their own (in-unit) washer & dryer hookups + kitchen appliances. Granite counters. There is 1 unit that is available for view (Note: this vacant unit currently has applications already at $2400 a month that are ready to rent asap). PLEASE DO NOT DISTURB OTHER OCCUPANTS. Complex is well-maintained, gated & provides plenty of off-street parking. Seller is aware of bedroom discrepancy between title & actual. However, 9 bedrooms appear original.

Excellent in-demand location near USC, Downtown, Leimert Park, and Sofi Stadium. Public Transportation nearby and easy access to 110 and I-10 freeways. Drive by, or call us to walk the site and see the vacant unit. Come Soon!

Rents:
Unit 1: $2400 (Actual)
Unit 2: $2550 (Actual)
Unit 3: $2400 (Vacant unit. Tenant Application already received at $2400.)

Important Numbers:
GRM: 4.9%
Cap Rate: 15.3
Gross Annual Income: $88,200