4215 S Kansas Ave
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4215 S Kansas Ave
24 Unit Block of Flats £2,879,850 (£119,994/Unit) 4.81% Net Initial Yield Los Angeles, CA 90037
Investment Highlights
- Excellent Opportunity to Acquire a Partially Renovated Apartment Building in a Strong Rental Area Proximate to Expo Park
- Property Features a Mix of 23 Studios, One One-Bed/One- Bath Unit, Controlled Access, and On-Site Laundry
- Current Rents Offer 27 Percent Rental Upside
- Attractive Assumable Financing Available: 3.71% Fixed Rate Until May 2030
- Approximately Two-Thirds of the Units Have Been Renovated
- Located West of the 110 Freeway Steps to Manual Arts Sr. High School, a Half-Mile to Expo Park and One Mile to USC
Executive Summary
Marcus & Millichap is pleased to present to market 4215 Kansas Avenue, a 24-unit apartment building in Los Angeles, California. The property is in a strong rental location just a half-mile from Expo Park and top Los Angeles attractions that include the L.A. Memorial Coliseum, BMO Stadium, the Lucas Museum, the California Science Center, the California History Museum, and more. Furthermore, USC and the Metro Expo line are just one mile from the property.
4215 Kansas Avenue features 23 studio apartments and one one-bedroom unit. Many of the units have been upgraded, and all are separately metered for gas and electricity. The building also offers on-site laundry.
Current rents offer a new investor 27 percent rental upside, and attractive assumable financing make this a great acquisition opportunity in a dense rental market. Assumable financing terms: Freddie Mac loan via CBRE with a fixed rate of 3.71% until May 1st, 2030. $1,268,411.93 balance remaining as of October 2024.
4215 Kansas Avenue features 23 studio apartments and one one-bedroom unit. Many of the units have been upgraded, and all are separately metered for gas and electricity. The building also offers on-site laundry.
Current rents offer a new investor 27 percent rental upside, and attractive assumable financing make this a great acquisition opportunity in a dense rental market. Assumable financing terms: Freddie Mac loan via CBRE with a fixed rate of 3.71% until May 1st, 2030. $1,268,411.93 balance remaining as of October 2024.
Property Facts
| Price | £2,879,850 | Apartment Style | Low Rise |
| Price Per Unit | £119,994 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Net Initial Yield | 4.81% | Building Size | 9,550 SF |
| Gross Rent Multiplier | 11.98 | Number of Floors | 2 |
| No. Units | 24 | Year Built | 1924 |
| Property Type | Residential | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | £2,879,850 |
| Price Per Unit | £119,994 |
| Sale Type | Investment |
| Net Initial Yield | 4.81% |
| Gross Rent Multiplier | 11.98 |
| No. Units | 24 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 9,550 SF |
| Number of Floors | 2 |
| Year Built | 1924 |
| Opportunity Zone |
Yes |
Site Amenities
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 23 | - | 300 |
| 1+1 | 1 | - | - |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 5020-021-004 | Improvements Assessment | £1,153,783 |
| Land Assessment | £769,187 | Total Assessment | £1,922,970 |
PROPERTY TAXES
Parcel Number
5020-021-004
Land Assessment
£769,187
Improvements Assessment
£1,153,783
Total Assessment
£1,922,970
zoning
| Zoning Code | R3, Los Angeles |
| R3, Los Angeles |
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4215 S Kansas Ave
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