Property Details

Year Built: 1957
Units: 24
Price / Unit: $170,833
Price / SqFt: $239.46
CAP: 4.42%
GRM: 12.46

Executive Summary

6736-6800 West Boulevard is a 24-unit investment opportunity located in Los Angeles’ up and coming Park Mesa Heights neighborhood, just between Hyde Park Boulevard and Florence Avenue, a location that will be just one mile from the new metro station at Hyde Park opening in 2020

The subject property features two, two-story buildings consisting of 20 one-bedroom units and four two-bedroom units; built in 1957, the property is separately metered for gas and electricity

Located on two parcels totaling 20,610 square feet, current zoning is C2-1VL-CPIO; total of 20 parking spaces at the rear of the property with no soft-story retrofit required

Value-add opportunity with a current loss-to-lease of 20%; offered at a 4.42% CAP rate on current income and pro forma CAP rate of 6.19% when market rents are achieved

The subject property has a secure, gated entrance and will be just one mile to the Hyde Park Metro stop on Crenshaw Blvd & Slauson Ave, allowing tenants an easy commute from LAX to Downtown Los Angeles and anywhere in between

The subject property is in close proximity to both restaurant and retail destinations; new retail developments just down Crenshaw Blvd signifies the resurgence of the neighborhood and should assist the growth of the apartment rental market for years to come

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