Property Details


Year Built: 1949
Units: 8
Price / Unit: $234,375
Price / SqFt: $391
CAP: 6.65%
GRM: 10.28

Executive Summary


INVESTMENT HIGHLIGHT

  • 5218 Latham Street is an eight-unit investment opportunity in the Central Alameda neighborhood of Los Angeles located just east of Hooper Avenue between East Vernon Avenue and East Slauson Avenue, a location in a densely populated, rapidly gentrifying neighborhood
  • The subject property features a unit mix of eight two-bedroom one-bathroom units; unique opportunity as all units will be delivered vacant at the close of escrow, allowing an investor to renovate the interiors and achieve market rents immediately
  • After the renovation and lease-up period, the subject property at the asking price is projected to achieve a CAP rate of 6.65%-7.58%; opportunity to fully stabilize the building immediately with no buyouts or relocation required
  • 5218 Latham Street has eight total parking spaces along the side and rear of the property with no seismic retrofit required
  • Utilities are low as gas and electricity are separately metered; city trash with no waste removal expense for the ownership; electrical panels were upgraded with permits in 2010
  • The subject property is located two blocks from Hooper Avenue Elementary School and has a walk score of 75; residents have many transportation options available as the property is in close proximity to the Metro A Rail Line as well as multiple Metro bus lines along Hooper Avenue and Compton Avenue
  • 5218 Latham Street is ideally located for residents to commute to employment opportunities in Downtown Los Angeles as well as the neighboring industrial cities of Vernon and Huntington Park with plentiful warehouse and manufacturing employment

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