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$6,250,000
Est. payment /mo
29,504 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 29,504 sqft
Price per Sqft $211
MLS Listing ID CL25487151
HOA Y/N No
Year Built 1963
Lot Size 0.698 Acres
Acres 0.7
Property Sub-Type Other
Property Description
We are pleased to introduce 3018 W 67th Street. The property consists of an attractive mix of 2 three bedroom + two bath, 23 two bedroom + one bath and 10 one bedroom + one bath units with enormous floor plans. Recent renovations to the property include soft-story retrofit completion and a newer roof. The property's rental marketability benefits from its close proximity to SoFi Stadium, Intuit Dome and the KIA Forum. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units and $2,172 for 1-bedroom units.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 4008011001
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Listed by Enrique Viramontes • Remax Commercial and Investment Realty