6 Units 1162 E 43rd Pl. | 1162 E 43rd Pl
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6 Units 1162 E 43rd Pl. 1162 E 43rd Pl
6 Unit Block of Flats £1,193,236 (£198,873/Unit) 7.06% Net Initial Yield Los Angeles, CA 90011
Executive Summary
Great cash flow property with huge upside too. 7.5% cash on cash return when current two vacancies rented at market rents. Units will be rent ready at Close of Escrow. Many upgrades over the years including, Newer roof on both buildings, Copper water pipes, Vinyl windows, new external stairs to top unit in the back building. 7.1% Cap Rate on current rents. Possible conversion of garages currently used for storage to ADU to make 7 or 8 units, check with city for allowances. Located in a strong rental area in South Central Area with a great unit mix of five 3 Bdrm and 1 Bath units. Property is separate metered for Gas and Electric and consists of two buildings, a 4-plex up front and duplex along with a 4 car garage in the back. Front 4 units have been converted to 3 bedrooms but third bedroom can easily be used as a living room as well, Buyer to verify permits for all changes and improvements. Drive by only.
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Property Facts
| Price | £1,193,236 | Apartment Style | Low Rise |
| Price Per Unit | £198,873 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Net Initial Yield | 7.06% | Building Size | 5,729 SF |
| Gross Rent Multiplier | 9.4 | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1950 |
| Property Subtype | Apartment |
| Price | £1,193,236 |
| Price Per Unit | £198,873 |
| Sale Type | Investment |
| Net Initial Yield | 7.06% |
| Gross Rent Multiplier | 9.4 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 5,729 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1950 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 1 | £863.82 | - |
| 2+1 | 4 | £7,307 | - |
| 3+1 | 1 | £2,388 | - |
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Walk Score ®
Very Walkable (83)
Bike Score ®
Very Bikeable (74)
zoning
| Zoning Code | LAC2 (Five or More Units of Apartments) |
| LAC2 (Five or More Units of Apartments) |
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Richard Bell -
Bell Realty Group
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6 Units 1162 E 43rd Pl. | 1162 E 43rd Pl
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